Maplebear (NASDAQ:CART) Price Target Raised to $44.00

Maplebear (NASDAQ:CART) had its price objective hoisted by Morgan Stanley from $41.00 to $44.00 in a research report report published on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

CART has been the topic of several other reports. JMP Securities increased their target price on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Needham & Company LLC raised shares of Maplebear from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Monday. BMO Capital Markets boosted their target price on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft began coverage on Maplebear in a report on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price target on the stock. Finally, Barclays boosted their price objective on Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $48.31.

Maplebear Trading Down 2.9 %

CART stock opened at $45.11 on Monday. The firm has a market cap of $11.59 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04. The stock has a 50-day moving average price of $43.61 and a 200-day moving average price of $39.57. Maplebear has a 1-year low of $22.70 and a 1-year high of $50.01.

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

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total value of $886,855.00. Following the transaction, the chief executive officer now directly owns 1,771,993 shares in the company, valued at $75,734,980.82. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alan Ramsay sold 2,559 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $42.97, for a total transaction of $109,960.23. Following the sale, the chief accounting officer now owns 96,666 shares of the company’s stock, valued at approximately $4,153,738.02. The trade was a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,128 shares of company stock worth $4,980,404 in the last quarter. 36.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Maplebear

Several institutional investors have recently bought and sold shares of the company. Portman Ltd bought a new stake in shares of Maplebear in the third quarter valued at $3,196,000. State Street Corp increased its holdings in Maplebear by 48.3% in the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company’s stock worth $103,994,000 after acquiring an additional 831,795 shares during the last quarter. Cerity Partners LLC bought a new stake in Maplebear in the 3rd quarter valued at about $1,442,000. Charles Schwab Investment Management Inc. lifted its holdings in Maplebear by 5,191.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after purchasing an additional 1,461,501 shares during the last quarter. Finally, Zacks Investment Management bought a new position in Maplebear during the third quarter worth about $4,853,000. 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.