Barclays Boosts Maplebear (NASDAQ:CART) Price Target to $43.00

Maplebear (NASDAQ:CARTFree Report) had its price target increased by Barclays from $41.00 to $43.00 in a research report released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also recently weighed in on the company. Needham & Company LLC reaffirmed a hold rating on shares of Maplebear in a research report on Tuesday, May 7th. JPMorgan Chase & Co. boosted their price objective on shares of Maplebear from $35.00 to $45.00 and gave the company an overweight rating in a research note on Monday, March 25th. Loop Capital initiated coverage on shares of Maplebear in a research note on Friday, April 19th. They issued a buy rating and a $46.00 target price for the company. Morgan Stanley boosted their price target on shares of Maplebear from $28.00 to $40.00 and gave the stock an equal weight rating in a research note on Monday, May 6th. Finally, Sanford C. Bernstein raised shares of Maplebear from a market perform rating to an outperform rating and increased their price target for the stock from $30.00 to $43.00 in a report on Thursday, March 14th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $40.89.

Check Out Our Latest Research Report on Maplebear

Maplebear Stock Down 3.2 %

Shares of Maplebear stock opened at $34.94 on Thursday. The firm’s fifty day simple moving average is $36.28 and its 200-day simple moving average is $29.29. Maplebear has a 12 month low of $22.13 and a 12 month high of $42.95.

Maplebear (NASDAQ:CARTGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.39. The business had revenue of $820.00 million during the quarter, compared to analyst estimates of $794.08 million. The business’s revenue was up 8.0% compared to the same quarter last year. Equities analysts predict that Maplebear will post 0.97 EPS for the current year.

Insider Activity

In related news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average cost of $27.90 per share, for a total transaction of $28,923,455.70. Following the transaction, the insider now directly owns 1,036,683 shares of the company’s stock, valued at approximately $28,923,455.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Jeffrey D. Jordan sold 760,479 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $26.01, for a total value of $19,780,058.79. Following the completion of the transaction, the director now owns 20,783 shares of the company’s stock, valued at $540,565.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Us (Ttgp) Ltd. Sc bought 1,036,683 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average price of $27.90 per share, for a total transaction of $28,923,455.70. Following the transaction, the insider now owns 1,036,683 shares of the company’s stock, valued at approximately $28,923,455.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 2,157,745 shares of company stock worth $61,771,955 and have sold 1,055,899 shares worth $30,422,265. Company insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Several hedge funds have recently made changes to their positions in CART. FMR LLC purchased a new position in Maplebear during the third quarter worth about $56,424,000. Blackstone Inc. purchased a new stake in Maplebear in the third quarter valued at approximately $17,369,000. KPCB DGF II Associates LLC acquired a new position in Maplebear during the third quarter worth approximately $119,544,000. Monashee Investment Management LLC purchased a new position in Maplebear during the third quarter worth approximately $6,069,000. Finally, Federated Hermes Inc. raised its stake in Maplebear by 190.2% during the fourth quarter. Federated Hermes Inc. now owns 464,355 shares of the company’s stock worth $10,898,000 after purchasing an additional 304,355 shares during the period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Company Profile

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Maplebear (NASDAQ:CART)

Receive News & Ratings for Maplebear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maplebear and related companies with MarketBeat.com's FREE daily email newsletter.