Maplebear (NASDAQ:CART) Given New $40.00 Price Target at Morgan Stanley

Maplebear (NASDAQ:CART) had its target price hoisted by Morgan Stanley from $28.00 to $40.00 in a research report report published on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently issued reports on CART. Piper Sandler boosted their price objective on Maplebear from $36.00 to $45.00 and gave the company an overweight rating in a report on Friday, March 15th. Sanford C. Bernstein raised shares of Maplebear from a market perform rating to an outperform rating and raised their price objective for the stock from $30.00 to $43.00 in a research note on Thursday, March 14th. BMO Capital Markets initiated coverage on shares of Maplebear in a research note on Tuesday, January 9th. They issued a market perform rating and a $26.00 target price for the company. Benchmark lowered shares of Maplebear from a buy rating to a hold rating in a research report on Tuesday, January 23rd. Finally, Robert W. Baird upped their price objective on shares of Maplebear from $31.00 to $44.00 and gave the stock an outperform rating in a research report on Monday, April 1st. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $39.42.

Maplebear Trading Down 0.1 %

Shares of NASDAQ:CART opened at $37.48 on Monday. Maplebear has a twelve month low of $22.13 and a twelve month high of $42.95. The company’s 50 day moving average is $36.05 and its 200 day moving average is $29.09.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.52. The business had revenue of $803.00 million for the quarter, compared to analysts’ expectations of $804.62 million. Maplebear’s revenue was up 6.1% compared to the same quarter last year. As a group, research analysts expect that Maplebear will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Maplebear

In other news, CAO Alan Ramsay sold 12,113 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $34.33, for a total transaction of $415,839.29. Following the completion of the sale, the chief accounting officer now owns 114,205 shares of the company’s stock, valued at $3,920,657.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Maplebear news, major shareholder Us (Ttgp) Ltd. Sc bought 1,036,683 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were acquired at an average cost of $27.90 per share, with a total value of $28,923,455.70. Following the purchase, the insider now directly owns 1,036,683 shares of the company’s stock, valued at approximately $28,923,455.70. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Alan Ramsay sold 12,113 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $34.33, for a total value of $415,839.29. Following the transaction, the chief accounting officer now owns 114,205 shares in the company, valued at $3,920,657.65. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 2,157,745 shares of company stock worth $61,771,955 and have sold 1,055,899 shares worth $30,422,265. 36.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Maplebear

A number of institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in Maplebear in the 1st quarter valued at $1,663,000. Donoghue Forlines LLC acquired a new position in shares of Maplebear during the 1st quarter valued at about $262,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Maplebear in the first quarter valued at about $213,000. SG Americas Securities LLC acquired a new stake in Maplebear during the first quarter worth about $31,109,000. Finally, Embree Financial Group purchased a new position in Maplebear during the first quarter worth about $323,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.