Maplebear (NASDAQ:CART) Price Target Lowered to $52.00 at Mizuho

Maplebear (NASDAQ:CART) had its target price decreased by Mizuho from $55.00 to $52.00 in a report issued on Wednesday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

CART has been the topic of several other reports. Cantor Fitzgerald reissued an “overweight” rating and set a $55.00 price target on shares of Maplebear in a research note on Wednesday. JMP Securities lifted their target price on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Wedbush dropped their target price on Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $56.00 price target on shares of Maplebear in a report on Wednesday. Finally, Piper Sandler boosted their price objective on Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.80.

Maplebear Stock Performance

Maplebear stock opened at $42.80 on Wednesday. The business’s fifty day moving average is $46.48 and its two-hundred day moving average is $42.68. The firm has a market cap of $11.00 billion, a P/E ratio of 28.72, a P/E/G ratio of 1.19 and a beta of 1.07. Maplebear has a 52 week low of $29.84 and a 52 week high of $53.44.

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

Insider Transactions at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the transaction, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,311 shares of company stock valued at $1,088,636 over the last 90 days. 36.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Maplebear

Several institutional investors have recently added to or reduced their stakes in CART. Mackenzie Financial Corp increased its holdings in Maplebear by 559.1% during the 4th quarter. Mackenzie Financial Corp now owns 162,111 shares of the company’s stock worth $6,715,000 after purchasing an additional 137,514 shares in the last quarter. Cache Advisors LLC acquired a new position in shares of Maplebear during the fourth quarter worth about $304,000. WCG Wealth Advisors LLC grew its holdings in shares of 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 buying an additional 451 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Maplebear by 69.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 111,116 shares of the company’s stock valued at $4,602,000 after buying an additional 45,458 shares during the last quarter. Finally, PharVision Advisers LLC bought a new stake in Maplebear in the 4th quarter valued at approximately $232,000. 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.