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

Maplebear (NASDAQ:CART) had its price target lifted by Loop Capital from $52.00 to $58.00 in a report published on Monday,Benzinga reports. Loop Capital currently has a buy rating on the stock.

A number of other analysts have also weighed in on the company. Seaport Res Ptn upgraded Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company reduced their target price on Maplebear from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 3rd. Macquarie reiterated an “outperform” rating and issued a $55.00 target price on shares of Maplebear in a research note on Tuesday, May 6th. JMP Securities reiterated a “market outperform” rating and issued a $55.00 target price on shares of Maplebear in a research note on Friday, April 11th. Finally, Mizuho cut their price target on Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.30.

Maplebear Stock Down 0.4%

Shares of CART opened at $46.91 on Monday. The business has a fifty day moving average of $41.67 and a 200 day moving average of $43.59. Maplebear has a 52-week low of $29.84 and a 52-week high of $53.44. The company has a market cap of $12.31 billion, a PE ratio of 31.48, a P/E/G ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART) last released its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $897.00 million during the quarter, compared to analysts’ expectations of $896.86 million. During the same quarter in the previous year, the business earned $0.43 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts anticipate that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Maplebear

In other news, General Counsel Morgan Fong sold 5,249 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the sale, the general counsel now owns 484,292 shares in the company, valued at approximately $20,616,310.44. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the sale, the chief executive officer now owns 1,662,692 shares in the company, valued at $72,011,190.52. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,165 shares of company stock worth $1,541,785 over the last quarter. Insiders own 26.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Large investors have recently modified their holdings of the business. Proathlete Wealth Management LLC purchased a new stake in shares of Maplebear during the first quarter worth about $26,000. Jones Financial Companies Lllp boosted its position in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares in the last quarter. Allworth Financial LP boosted its position in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after purchasing an additional 420 shares in the last quarter. NewEdge Advisors LLC boosted its position in Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after purchasing an additional 717 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in Maplebear by 914.1% in the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock worth $40,000 after purchasing an additional 905 shares in the last quarter. 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.