Maplebear Inc. (NASDAQ:CART) Receives $47.14 Consensus Price Target from Analysts

Shares of Maplebear Inc. (NASDAQ:CART - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twenty-six ratings firms that are presently covering the company, Marketbeat reports. Thirteen equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $47.14.

A number of analysts have recently commented on the company. Barclays upped their price objective on Maplebear from $48.00 to $56.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on Maplebear from $47.00 to $52.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Morgan Stanley reduced their price objective on Maplebear from $45.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Tuesday, September 24th. Bank of America boosted their target price on Maplebear from $50.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. Finally, Raymond James initiated coverage on shares of Maplebear in a research report on Tuesday, September 24th. They set a "market perform" rating on the stock.

Insider Transactions at Maplebear

In other news, General Counsel Morgan Fong sold 8,345 shares of the firm's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $333,800.00. Following the transaction, the general counsel now directly owns 330,886 shares in the company, valued at approximately $13,235,440. This trade represents a 2.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $41.39, for a total transaction of $102,895.54. Following the completion of the transaction, the chief accounting officer now directly owns 99,225 shares of the company's stock, valued at $4,106,922.75. This trade represents a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,954 shares of company stock valued at $4,890,405. Insiders own 36.00% of the company's stock.

Hedge Funds Weigh In On Maplebear

Several institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc increased its holdings in shares of Maplebear by 3.7% in the 3rd 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 period. Coldstream Capital Management Inc. increased its stake in shares of Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company's stock valued at $1,294,000 after purchasing an additional 490 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of Maplebear by 5.1% during the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company's stock valued at $493,000 after buying an additional 584 shares during the last quarter. Pier Capital LLC raised its holdings in shares of Maplebear by 0.4% during the third quarter. Pier Capital LLC now owns 151,604 shares of the company's stock valued at $6,176,000 after buying an additional 616 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Maplebear during the third quarter worth approximately $33,000. 63.09% of the stock is owned by institutional investors.

Maplebear Price Performance

NASDAQ:CART traded down $0.11 during mid-day trading on Friday, reaching $41.78. The company's stock had a trading volume of 4,141,160 shares, compared to its average volume of 4,000,237. The stock has a market cap of $10.73 billion, a P/E ratio of 28.04, a P/E/G ratio of 1.08 and a beta of 0.94. The company's fifty day simple moving average is $43.80 and its two-hundred day simple moving average is $37.83. Maplebear has a twelve month low of $22.13 and a twelve month high of $50.01.

Maplebear (NASDAQ:CART - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.20. The firm had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Maplebear's revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($20.86) earnings per share. Sell-side analysts expect that Maplebear will post 1.4 EPS for the current fiscal year.

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.