Maplebear (NASDAQ:CART) Earns Outperform Rating from Analysts at Mizuho

Research analysts at Mizuho started coverage on shares of Maplebear (NASDAQ:CART) in a research note issued on Tuesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $55.00 price target on the stock. Mizuho’s price objective indicates a potential upside of 21.92% from the stock’s current price.

A number of other research firms have also weighed in on CART. Wells Fargo & Company began coverage on Maplebear in a research report on Friday, January 10th. They set an “equal weight” rating and a $47.00 price objective on the stock. Macquarie increased their price target on Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Maplebear in a research report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Raymond James assumed coverage on Maplebear in a report on Tuesday, September 24th. They issued a “market perform” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.31.

Maplebear Trading Down 2.9 %

Shares of NASDAQ CART opened at $45.11 on Tuesday. The stock has a fifty day simple moving average of $43.61 and a 200-day simple moving average of $39.57. Maplebear has a twelve month low of $22.70 and a twelve month high of $50.01. The stock has a market capitalization of $11.59 billion, a PE ratio of 30.28, a PEG ratio of 1.08 and a beta of 1.04.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. During the same quarter last year, the firm posted ($20.86) earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities analysts predict that Maplebear will post 1.4 earnings per share for the current year.

Insider Transactions at Maplebear

In other news, CAO Alan Ramsay sold 2,247 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total transaction of $92,261.82. Following the completion of the sale, the chief accounting officer now owns 89,982 shares in the company, valued at $3,694,660.92. This represents a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Morgan Fong sold 11,325 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $42.97, for a total value of $486,635.25. Following the sale, the general counsel now directly owns 287,659 shares of the company’s stock, valued at approximately $12,360,707.23. This represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 112,128 shares of company stock worth $4,980,404. Company insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

A number of large investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Maplebear in the third quarter valued at about $33,000. Huntington National Bank purchased a new stake in Maplebear in the 3rd quarter valued at approximately $54,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Maplebear in the 3rd quarter valued at approximately $74,000. Quarry LP increased its position in Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after purchasing an additional 2,865 shares during the period. Finally, Vinva Investment Management Ltd purchased a new position in shares of Maplebear during the 3rd quarter worth approximately $212,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

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.