JPMorgan Chase & Co. Issues Pessimistic Forecast for Maplebear (NASDAQ:CART) Stock Price

Maplebear (NASDAQ:CART - Get Free Report) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $52.00 to $50.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 21.68% from the company's previous close.

A number of other equities analysts have also commented on the company. Mizuho reduced their price objective on Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on Maplebear in a research note on Tuesday, December 3rd. They set a "hold" rating and a $37.00 price target on the stock. Stifel Nicolaus upped their price target on Maplebear from $56.00 to $57.00 and gave the company a "buy" rating in a research note on Wednesday. Loop Capital upped their price target on Maplebear from $49.00 to $56.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Finally, Benchmark reaffirmed a "hold" rating on shares of Maplebear in a research note on Wednesday. Thirteen equities 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $49.92.

Maplebear Stock Performance

Maplebear stock traded up $0.35 on Wednesday, reaching $41.09. The company's stock had a trading volume of 5,558,472 shares, compared to its average volume of 4,521,604. The company has a market cap of $10.56 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.19 and a beta of 1.07. The business's fifty day moving average price is $46.43 and its 200 day moving average price is $42.80. Maplebear has a twelve month low of $29.84 and a twelve month high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.16. The company had revenue of $883.00 million for 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%. As a group, equities analysts forecast that Maplebear will post 1.43 earnings per share for the current year.

Insider Transactions at Maplebear

In other news, CAO Alan Ramsay sold 2,247 shares of the company's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the transaction, the chief accounting officer now directly owns 87,735 shares of the company's stock, valued at $3,697,152.90. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the company's 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 transaction, the chief executive officer now directly owns 1,771,993 shares of the company's stock, valued at $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,061 shares of company stock valued at $1,987,318 over the last three months. Company insiders own 36.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp boosted its position in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Maplebear during the third quarter valued at approximately $33,000. Allworth Financial LP boosted its position in Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after purchasing an additional 420 shares during the last quarter. NewEdge Advisors LLC boosted its position in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after purchasing an additional 717 shares during the last quarter. Finally, Anderson Financial Strategies LLC acquired a new position in Maplebear during the fourth quarter valued at approximately $46,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Company Profile

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.