Maplebear (NASDAQ:CART) Price Target Raised to $58.00

Maplebear (NASDAQ:CART) had its price objective boosted by Barclays from $56.00 to $58.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts also recently commented on the stock. Robert W. Baird boosted their target price on shares of Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Mizuho initiated coverage on shares of Maplebear in a report on Tuesday, January 14th. They issued an “outperform” rating and a $55.00 target price on the stock. Wells Fargo & Company initiated coverage on shares of Maplebear in a report on Friday, January 10th. They issued an “equal weight” rating and a $47.00 target price on the stock. JMP Securities boosted their target price on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Finally, Seaport Res Ptn raised shares of Maplebear to a “strong-buy” rating in a report on Wednesday, February 12th. Thirteen 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.92.

Maplebear Price Performance

CART opened at $41.09 on Wednesday. The firm has a market cap of $10.56 billion, a P/E ratio of 27.58, a PEG ratio of 1.19 and a beta of 1.07. Maplebear has a 1-year low of $29.84 and a 1-year high of $53.44. The company has a 50 day simple moving average of $46.43 and a two-hundred day simple moving average of $42.72.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $889.98 million. Equities analysts anticipate that Maplebear will post 1.43 earnings per share for the current year.

Insider Transactions at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the transaction, the chief executive officer now owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. The trade was a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,061 shares of company stock worth $1,987,318. Insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its holdings in Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Maplebear by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after acquiring an additional 286 shares in the last quarter. Allworth Financial LP grew its holdings in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after acquiring an additional 420 shares in the last quarter. WCG Wealth Advisors LLC grew its holdings in 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 acquiring an additional 451 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Maplebear by 1.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after acquiring an additional 490 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors.

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.