Maplebear Inc. (NASDAQ:CART) Receives $51.91 Consensus Target Price from Brokerages

Shares of Maplebear Inc. (NASDAQ:CART) have received a consensus rating of “Moderate Buy” from the twenty-seven ratings firms that are presently covering the company, MarketBeat reports. Twelve analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $51.91.

CART has been the topic of several research analyst reports. Loop Capital raised their price objective on Maplebear from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Stifel Nicolaus reduced their price objective on Maplebear from $57.00 to $54.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Jefferies Financial Group raised their target price on Maplebear from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, May 27th. Barclays boosted their price target on shares of Maplebear from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Finally, Wedbush reduced their price target on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th.

Insider Buying and Selling at Maplebear

In other news, General Counsel Morgan Fong sold 5,249 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.57, for a total value of $223,449.93. Following the transaction, the general counsel now owns 484,292 shares in the company, valued at $20,616,310.44. This represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Fidji Simo sold 8,133 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the transaction, the chief executive officer now owns 1,646,426 shares in the company, valued at $68,491,321.60. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,640 shares of company stock valued at $843,579. 26.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Maplebear

Large investors have recently made changes to their positions in the business. Proathlete Wealth Management LLC acquired a new position in shares of Maplebear in the 1st quarter valued at about $26,000. Jones Financial Companies Lllp increased its holdings in Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after buying an additional 222 shares during the last quarter. Allworth Financial LP increased its holdings in Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after buying an additional 420 shares during the last quarter. NewEdge Advisors LLC increased its holdings in 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 during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Maplebear in the first quarter worth approximately $40,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Up 0.5%

Shares of NASDAQ:CART opened at $45.92 on Friday. Maplebear has a 52-week low of $29.84 and a 52-week high of $53.44. The company has a 50 day moving average of $43.28 and a two-hundred day moving average of $43.72. The company has a market capitalization of $12.05 billion, a price-to-earnings ratio of 30.82, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. During the same period in the previous year, the business posted $0.43 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts anticipate that Maplebear will post 1.43 earnings per share 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.