Wedbush Lowers Maplebear (NASDAQ:CART) Price Target to $46.00

Maplebear (NASDAQ:CART) had its price target lowered by Wedbush from $48.00 to $46.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock. Wedbush also issued estimates for Maplebear’s Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.31 EPS, Q3 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.40 EPS, FY2025 earnings at $1.38 EPS and FY2026 earnings at $1.82 EPS.

CART has been the topic of a number of other reports. Wells Fargo & Company started coverage on shares of Maplebear in a report on Friday, January 10th. They issued an “equal weight” rating and a $47.00 price target on the stock. BMO Capital Markets upped their target price on shares of Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Wednesday. Bank of America lifted their price target on shares of Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday. Robert W. Baird increased their price objective on Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Barclays lifted their target price on Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday. Thirteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.92.

Maplebear Price Performance

Shares of NASDAQ:CART opened at $41.09 on Wednesday. The firm has a market capitalization of $10.56 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07. The business has a 50 day simple moving average of $46.43 and a two-hundred day simple moving average of $42.72. Maplebear has a 1 year low of $29.84 and a 1 year high of $53.44.

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

Insider Buying and Selling

In related news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the transaction, the chief executive officer now directly owns 1,662,692 shares of the company’s stock, valued at $72,011,190.52. This trade represents a 1.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the sale, the chief accounting officer now owns 87,735 shares of the company’s stock, valued at $3,697,152.90. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,061 shares of company stock worth $1,987,318 in the last ninety days. 36.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Maplebear

Several institutional investors and hedge funds have recently made changes to their positions in CART. Jones Financial Companies Lllp increased its position in shares of Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after acquiring an additional 222 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Maplebear by 3.7% in the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock valued at $331,000 after purchasing an additional 286 shares during the period. Allworth Financial LP raised its stake in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after purchasing an additional 420 shares during the last quarter. WCG Wealth Advisors LLC lifted its holdings in shares of Maplebear by 3.3% during the fourth quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company’s stock worth $590,000 after purchasing an additional 451 shares during the period. Finally, Coldstream Capital Management Inc. boosted its position in Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock valued at $1,294,000 after buying an additional 490 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

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.