Maplebear (NASDAQ:CART) Price Target Raised to $45.00 at Morgan Stanley

Maplebear (NASDAQ:CART) had its price target lifted by equities research analysts at Morgan Stanley from $44.00 to $45.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 10.46% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Bank of America raised their price objective on shares of Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday. Oppenheimer lifted their price target on shares of Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Macquarie lifted their price target on shares of Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Mizuho initiated coverage on shares of Maplebear in a research report on Tuesday, January 14th. They set an “outperform” rating and a $55.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $55.00 price objective on shares of Maplebear in a report on Wednesday. Thirteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Maplebear has an average rating of “Moderate Buy” and a consensus target price of $49.92.

Maplebear Stock Down 4.8 %

Shares of CART stock opened at $40.74 on Wednesday. Maplebear has a 12-month low of $29.84 and a 12-month high of $53.44. The company has a market capitalization of $10.47 billion, a P/E ratio of 27.34, a P/E/G ratio of 1.19 and a beta of 1.07. The firm has a 50-day moving average price of $46.45 and a 200 day moving average price of $42.66.

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

Insider Transactions at Maplebear

In related news, CAO Alan Ramsay sold 2,314 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the transaction, the chief accounting officer now owns 85,421 shares in the company, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the transaction, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,311 shares of company stock valued at $1,088,636. 36.00% of the stock is currently owned by insiders.

Institutional Trading of Maplebear

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp increased its position in Maplebear by 559.1% during the 4th quarter. Mackenzie Financial Corp now owns 162,111 shares of the company’s stock valued at $6,715,000 after purchasing an additional 137,514 shares during the period. Cache Advisors LLC acquired a new stake in shares of Maplebear during the 4th quarter worth approximately $304,000. WCG Wealth Advisors LLC grew its position in shares of Maplebear by 3.3% during the 4th quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company’s stock worth $590,000 after buying an additional 451 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Maplebear by 69.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 111,116 shares of the company’s stock worth $4,602,000 after buying an additional 45,458 shares during the period. Finally, PharVision Advisers LLC acquired a new stake in shares of Maplebear during the 4th quarter worth approximately $232,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Company Profile

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.