Brokerages Set Maplebear Inc. (NASDAQ:CART) Price Target at $49.80

Shares of Maplebear Inc. (NASDAQ:CART) have been given a consensus recommendation of “Moderate Buy” by the thirty ratings firms that are presently covering the company, Marketbeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $50.38.

A number of analysts have commented on the company. Seaport Res Ptn raised Maplebear to a “strong-buy” rating in a report on Wednesday, February 12th. Benchmark reaffirmed a “hold” rating on shares of Maplebear in a report on Wednesday, February 26th. Stifel Nicolaus lifted their price objective on Maplebear from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $55.00 price objective on shares of Maplebear in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Maplebear in a report on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price objective for the company.

Insider Activity

In other news, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $42.14, for a total value of $94,688.58. Following the sale, the chief accounting officer now directly owns 87,735 shares of the company’s stock, valued at approximately $3,697,152.90. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the completion of the sale, the chief executive officer now directly owns 1,771,993 shares in the company, valued at $75,734,980.82. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,061 shares of company stock worth $1,987,318 over the last ninety days. Corporate insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Several large investors have recently made changes to their positions in the company. Jones Financial Companies Lllp increased its holdings in shares of Maplebear by 46.6% in 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. CIBC Asset Management Inc increased its stake in Maplebear by 3.7% during the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after acquiring an additional 286 shares during the last quarter. Allworth Financial LP increased its stake 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 acquiring an additional 420 shares during the last quarter. WCG Wealth Advisors LLC increased its stake 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 acquiring an additional 451 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its stake 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 acquiring an additional 490 shares during the last quarter. 63.09% of the stock is owned by institutional investors.

Maplebear Trading Up 0.4 %

Maplebear stock opened at $38.59 on Thursday. The firm has a market cap of $9.91 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 1.19 and a beta of 1.34. The stock has a fifty day simple moving average of $46.15 and a two-hundred day simple moving average of $42.94. Maplebear has a 12 month low of $29.84 and a 12 month high of $53.44.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The business had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. On average, equities research analysts forecast that Maplebear will post 1.43 EPS for the current fiscal year.

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.