Maplebear (NASDAQ:CART) Price Target Lowered to $50.00 at Robert W. Baird

Maplebear (NASDAQ:CART) had its target price decreased by Robert W. Baird from $60.00 to $50.00 in a research report report published on Wednesday morning, Marketbeat Ratings reports. Robert W. Baird currently has an outperform rating on the stock.

CART has been the topic of a number of other research reports. Benchmark raised Maplebear from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Friday, August 8th. Mizuho assumed coverage on Maplebear in a research report on Tuesday. They set a “neutral” rating and a $45.00 price objective on the stock. Wells Fargo & Company upped their target price on Maplebear from $55.00 to $57.00 and gave the stock an “equal weight” rating in a report on Friday, September 5th. Sanford C. Bernstein upped their target price on Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Finally, Bank of America upped their target price on Maplebear from $53.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.42.

Maplebear Stock Performance

Shares of CART stock opened at $38.18 on Wednesday. The stock’s fifty day moving average price is $44.70 and its two-hundred day moving average price is $44.26. The company has a market cap of $10.06 billion, a PE ratio of 22.07, a P/E/G ratio of 1.32 and a beta of 1.10. Maplebear has a fifty-two week low of $34.87 and a fifty-two week high of $53.50.

Maplebear (NASDAQ:CART) last issued its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $914.00 million for the quarter, compared to the consensus estimate of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. On average, equities analysts predict that Maplebear will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In related news, CEO Fidji Simo sold 66,560 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $50.01, for a total transaction of $3,328,665.60. Following the completion of the transaction, the chief executive officer directly owned 1,965,445 shares of the company’s stock, valued at $98,291,904.45. This trade represents a 3.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $47.75, for a total value of $232,268,988.00. The disclosure for this sale can be found here. Insiders sold 4,986,367 shares of company stock worth $238,211,261 over the last 90 days. Company insiders own 26.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Securian Asset Management Inc. raised its position in Maplebear by 2.1% during the 2nd quarter. Securian Asset Management Inc. now owns 12,509 shares of the company’s stock worth $566,000 after purchasing an additional 252 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Maplebear by 9.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock worth $134,000 after purchasing an additional 261 shares during the last quarter. Rafferty Asset Management LLC raised its position in Maplebear by 2.5% during the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after purchasing an additional 273 shares during the last quarter. CWM LLC raised its position in shares of Maplebear by 35.1% in the 1st quarter. CWM LLC now owns 1,058 shares of the company’s stock worth $42,000 after acquiring an additional 275 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Maplebear by 27.1% in the 1st quarter. Signaturefd LLC now owns 1,335 shares of the company’s stock worth $53,000 after acquiring an additional 285 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

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.