Maplebear Inc. (NASDAQ:CART) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Maplebear Inc. (NASDAQ:CART - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-five ratings firms that are presently covering the company, Marketbeat.com reports. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $47.29.

Several equities research analysts have weighed in on the stock. Wedbush increased their price target on shares of Maplebear from $35.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Robert W. Baird raised their target price on Maplebear from $44.00 to $51.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Bank of America boosted their price target on Maplebear from $50.00 to $51.00 and gave the company a "neutral" rating in a report on Wednesday, November 13th. Oppenheimer lifted their price objective on Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Finally, Piper Sandler upped their target price on Maplebear from $50.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th.

Maplebear Stock Up 4.6 %

Shares of CART traded up $1.87 during trading hours on Tuesday, hitting $42.78. The company had a trading volume of 4,197,281 shares, compared to its average volume of 3,991,033. Maplebear has a 52-week low of $22.13 and a 52-week high of $50.01. The stock's 50 day moving average price is $42.28 and its 200 day moving average price is $36.67. The firm has a market cap of $10.99 billion, a P/E ratio of 27.46, a P/E/G ratio of 1.09 and a beta of 1.12.

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

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Fidji Simo sold 33,000 shares of the business's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the completion of the sale, the chief executive officer now directly owns 1,844,778 shares in the company, valued at approximately $65,065,320.06. The trade was a 1.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 8,345 shares of the firm's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total value of $333,800.00. Following the completion of the transaction, the general counsel now owns 330,886 shares in the company, valued at approximately $13,235,440. This trade represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,710 shares of company stock worth $4,978,164. Insiders own 36.00% of the company's stock.

Institutional Trading of Maplebear

Several large investors have recently added to or reduced their stakes in CART. Huntington National Bank purchased a new position in shares of Maplebear during the 3rd quarter worth $54,000. nVerses Capital LLC raised its stake in shares of Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company's stock worth $55,000 after buying an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Maplebear during the 3rd quarter valued at approximately $74,000. Quarry LP increased its holdings in Maplebear by 269.5% in the 2nd quarter. Quarry LP now owns 3,928 shares of the company's stock worth $126,000 after acquiring an additional 2,865 shares in the last quarter. Finally, Vinva Investment Management Ltd purchased a new position in Maplebear during the third quarter valued at approximately $212,000. 63.09% of the stock is currently 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.