Analysts Set Maplebear Inc. (NASDAQ:CART) PT at $50.52

Maplebear Inc. (NASDAQ:CART) has been given a consensus recommendation of “Moderate Buy” by the thirty research firms that are currently covering the stock, MarketBeat Ratings reports. Fourteen investment analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $50.25.

CART has been the topic of several research reports. Loop Capital cut their target price on Maplebear from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. BMO Capital Markets boosted their price objective on shares of Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Benchmark reaffirmed a “hold” rating on shares of Maplebear in a research report on Wednesday, February 26th. Wells Fargo & Company began coverage on shares of Maplebear in a research report on Friday, January 10th. They set an “equal weight” rating and a $47.00 price target on the stock. Finally, Wedbush decreased their price objective on Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th.

Insider Transactions at Maplebear

In other news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the transaction, the chief accounting officer now owns 85,421 shares in the company, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the sale, the chief executive officer now owns 1,654,559 shares in the company, valued at $66,182,360. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,097 shares of company stock worth $1,087,094 in the last quarter. Insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

A number of institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its stake in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after acquiring an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Maplebear during the 3rd quarter valued at $33,000. Allworth Financial LP increased its holdings in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after purchasing an additional 420 shares during the period. NewEdge Advisors LLC raised its position in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after buying an additional 717 shares in the last quarter. Finally, Anderson Financial Strategies LLC bought a new stake in Maplebear during the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

NASDAQ CART opened at $39.73 on Monday. Maplebear has a 52-week low of $29.84 and a 52-week high of $53.44. The business has a 50 day simple moving average of $44.59 and a 200 day simple moving average of $43.54. The stock has a market cap of $10.51 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.19 and a beta of 1.34.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.16. The company had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. On average, analysts predict that Maplebear will post 1.43 EPS for the current year.

About Maplebear

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.