Maplebear Inc. (NASDAQ:CART) Given Consensus Rating of "Moderate Buy" by Analysts

Maplebear Inc. (NASDAQ:CART - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twenty-nine ratings firms that are currently covering the company, Marketbeat.com reports. Thirteen research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $50.52.

A number of research firms have commented on CART. Oppenheimer reduced their price objective on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. BTIG Research upgraded Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price target for the company in a research note on Tuesday, January 14th. Barclays upped their price objective on Maplebear from $56.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Seaport Res Ptn upgraded Maplebear to a "strong-buy" rating in a research report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Maplebear in a research report on Tuesday, December 3rd. They set a "hold" rating and a $37.00 price target on the stock.

Insider Transactions at Maplebear

In related news, CAO Alan Ramsay sold 2,314 shares of the firm's stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 85,421 shares of the company's stock, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now owns 1,654,559 shares in the company, valued at $66,182,360. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,097 shares of company stock worth $1,087,094. Insiders own 36.00% of the company's stock.

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Hedge Funds Weigh In On Maplebear

A number of hedge funds have recently made changes to their positions in CART. Wellington Management Group LLP increased its stake in Maplebear by 867.0% in the fourth quarter. Wellington Management Group LLP now owns 554,882 shares of the company's stock valued at $22,983,000 after acquiring an additional 497,499 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Maplebear in the 4th quarter valued at approximately $3,086,000. Mackenzie Financial Corp lifted its position in shares of Maplebear by 559.1% during the 4th quarter. Mackenzie Financial Corp now owns 162,111 shares of the company's stock worth $6,715,000 after buying an additional 137,514 shares during the period. Cache Advisors LLC acquired a new stake in Maplebear in the 4th quarter valued at $304,000. Finally, WCG Wealth Advisors LLC grew its position in Maplebear by 3.3% in the fourth quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company's stock valued at $590,000 after acquiring an additional 451 shares during the period. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Stock Performance

Shares of NASDAQ CART traded up $0.17 during midday trading on Monday, reaching $40.52. 2,742,925 shares of the company's stock were exchanged, compared to its average volume of 3,935,001. Maplebear has a 52-week low of $29.84 and a 52-week high of $53.44. The business's fifty day moving average price is $44.85 and its two-hundred day moving average price is $43.41. The stock has a market capitalization of $10.72 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34.

Maplebear (NASDAQ:CART - Get Free Report) last announced 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. 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%. Analysts predict that Maplebear will post 1.43 earnings per share 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.