JPMorgan Chase & Co. Issues Pessimistic Forecast for Maplebear (NASDAQ:CART) Stock Price

Maplebear (NASDAQ:CART) had its price target dropped by analysts at JPMorgan Chase & Co. from $50.00 to $44.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 12.65% from the stock’s current price.

A number of other brokerages have also commented on CART. Morgan Stanley lifted their price target on Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. FBN Securities assumed coverage on shares of Maplebear in a report on Friday, March 28th. They issued a “sector perform” rating and a $44.00 price target on the stock. Benchmark restated a “hold” rating on shares of Maplebear in a report on Wednesday, February 26th. BMO Capital Markets lifted their price objective on shares of Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Finally, Oppenheimer reduced their target price on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.88.

Maplebear Stock Up 5.2 %

NASDAQ CART opened at $39.06 on Tuesday. Maplebear has a 52 week low of $29.84 and a 52 week high of $53.44. The business has a 50 day moving average price of $43.02 and a 200-day moving average price of $43.46. The company has a market cap of $10.34 billion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 1.19 and a beta of 1.20.

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

Insider Buying and Selling at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Fidji Simo sold 2,033 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the sale, the chief executive officer now directly owns 1,654,559 shares in the company, valued at approximately $66,182,360. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,097 shares of company stock worth $1,087,094 in the last ninety days. 36.00% of the stock is owned by insiders.

Institutional Trading of Maplebear

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp increased its position in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares during the last quarter. Allworth Financial LP increased its position in Maplebear by 101.4% during 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. CIBC Asset Management Inc increased its position in Maplebear by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 8,554 shares of the company’s stock worth $354,000 after purchasing an additional 440 shares during the last quarter. WCG Wealth Advisors LLC increased its position in 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 last quarter. Finally, Coldstream Capital Management Inc. increased its position in Maplebear by 1.6% during the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after purchasing an additional 490 shares during the last quarter. Institutional investors and hedge funds 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.