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

Maplebear Inc. (NASDAQ:CART - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-nine research firms that are covering the stock, Marketbeat Ratings reports. Thirteen investment analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $48.96.

A number of analysts have recently commented on CART shares. JMP Securities upped their price objective on Maplebear from $42.00 to $51.00 and gave the company a "market outperform" rating in a report on Wednesday, November 13th. Barclays upped their target price on Maplebear from $48.00 to $56.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Mizuho assumed coverage on Maplebear in a research report on Tuesday, January 14th. They set an "outperform" rating and a $55.00 price objective for the company. Piper Sandler raised their price target on shares of Maplebear from $50.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Maplebear from $47.00 to $52.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th.

Insider Buying and Selling

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 29,253 shares of the company's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the transaction, the general counsel now owns 258,406 shares in the company, valued at $12,411,240.18. The trade was a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,808 shares of company stock worth $3,569,808 over the last 90 days. 36.00% of the stock is owned by insiders.

Institutional Trading of Maplebear

Institutional investors and hedge funds have recently modified their holdings of the business. CIBC Asset Management Inc lifted its position 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 buying an additional 286 shares during the period. Allworth Financial LP increased its position in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after acquiring an additional 420 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in Maplebear by 1.6% in the 3rd 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 in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Maplebear by 5.1% during the 3rd 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 period. Finally, Pier Capital LLC raised its stake 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 purchasing an additional 616 shares during the period. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Stock Performance

Shares of NASDAQ:CART traded down $0.39 during trading on Friday, reaching $48.49. 1,412,286 shares of the stock were exchanged, compared to its average volume of 4,395,859. The firm has a market cap of $12.46 billion, a price-to-earnings ratio of 32.54, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07. The firm's 50-day moving average price is $44.30 and its 200 day moving average price is $40.88. Maplebear has a 12-month low of $23.59 and a 12-month high of $50.01.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. During the same period last year, the business earned ($20.86) EPS. The firm's revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities research analysts forecast that Maplebear will post 1.43 EPS for the current 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.