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

Maplebear Inc. (NASDAQ:CART - Get Free Report) has been assigned an average rating of "Moderate Buy" from the thirty research firms that are presently covering the firm, Marketbeat Ratings reports. Thirteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $49.92.

A number of research analysts have issued reports on CART shares. Stifel Nicolaus boosted their price target on Maplebear from $56.00 to $57.00 and gave the stock a "buy" rating in a research report on Wednesday. Loop Capital upped their price objective on shares of Maplebear from $49.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Wedbush lowered their target price on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a research note on Wednesday. JMP Securities upped their price target on shares of Maplebear from $42.00 to $51.00 and gave the stock a "market outperform" rating in a research note on Wednesday, November 13th. Finally, BTIG Research upgraded shares of Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price objective for the company in a report on Tuesday, January 14th.

Maplebear Stock Performance

Shares of CART traded up $0.35 during midday trading on Thursday, hitting $41.09. 5,558,472 shares of the stock traded hands, compared to its average volume of 4,521,604. The business's 50 day moving average price is $46.43 and its two-hundred day moving average price is $42.80. The firm has a market capitalization of $10.56 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07. Maplebear has a 1-year low of $29.84 and a 1-year high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. As a group, equities research analysts forecast that Maplebear will post 1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 20,750 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the sale, the chief executive officer now directly owns 1,771,993 shares in the company, valued at approximately $75,734,980.82. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction on Friday, December 20th. The shares were 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 owns 87,735 shares of the company's stock, valued at approximately $3,697,152.90. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,061 shares of company stock worth $1,987,318 in the last ninety days. Insiders own 36.00% of the company's stock.

Institutional Trading of Maplebear

Institutional investors have recently bought and sold shares of the stock. Portman Ltd acquired a new stake in shares of Maplebear in the 3rd quarter valued at $3,196,000. State Street Corp increased its holdings in shares of Maplebear by 48.3% during the third quarter. State Street Corp now owns 2,552,617 shares of the company's stock worth $103,994,000 after buying an additional 831,795 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Maplebear in the third quarter valued at approximately $1,442,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Maplebear by 5,191.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company's stock worth $60,689,000 after acquiring an additional 1,461,501 shares in the last quarter. Finally, Zacks Investment Management bought a new stake in Maplebear during the 3rd quarter worth approximately $4,853,000. Institutional investors and hedge funds own 63.09% of the company's stock.

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.