Maplebear Inc. (NASDAQ:CART) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Maplebear Inc. (NASDAQ:CART) has received an average recommendation of “Moderate Buy” from the twenty-five research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $51.0909.

A number of research analysts have recently weighed in on CART shares. Argus raised shares of Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Raymond James Financial raised shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Wells Fargo & Company raised their price objective on shares of Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Finally, Jefferies Financial Group raised shares of Maplebear from a “hold” rating to a “buy” rating and raised their price objective for the stock from $38.00 to $45.00 in a report on Monday, March 30th.

Insider Activity at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the transaction, the director directly owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the transaction, the chief accounting officer directly owned 58,971 shares of the company’s stock, valued at approximately $2,373,582.75. This trade represents a 13.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 24.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Viking Global Investors LP purchased a new stake in Maplebear in the 2nd quarter worth approximately $169,782,000. Marshall Wace LLP purchased a new stake in Maplebear in the 4th quarter worth approximately $126,206,000. Holocene Advisors LP purchased a new stake in Maplebear in the 3rd quarter worth approximately $90,167,000. Norges Bank purchased a new stake in Maplebear in the 4th quarter worth approximately $97,221,000. Finally, Dimensional Fund Advisors LP lifted its stake in Maplebear by 114.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock worth $170,594,000 after purchasing an additional 2,026,567 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

Maplebear Stock Up 4.1%

Maplebear stock opened at $46.09 on Wednesday. Maplebear has a twelve month low of $32.73 and a twelve month high of $53.50. The firm has a 50 day moving average price of $41.58 and a 200-day moving average price of $40.36. The company has a market capitalization of $10.83 billion, a P/E ratio of 25.75, a P/E/G ratio of 0.61 and a beta of 0.88.

Maplebear (NASDAQ:CART) last released its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company earned $0.37 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. Equities analysts expect that Maplebear will post 2.45 EPS for the current fiscal year.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.