Shares of Maplebear Inc. (NASDAQ:CART - Get Free Report) have received an average rating of "Moderate Buy" from the twenty-six research firms that are covering the firm, Marketbeat.com reports. Thirteen analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $47.14.
Several research firms have weighed in on CART. Jefferies Financial Group initiated coverage on Maplebear in a research report on Wednesday, October 16th. They issued a "hold" rating and a $43.00 price objective on the stock. BMO Capital Markets increased their price target on shares of Maplebear from $39.00 to $48.00 and gave the company a "market perform" rating in a research report on Wednesday, November 13th. Morgan Stanley lowered their price objective on shares of Maplebear from $45.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Tuesday, September 24th. Oppenheimer increased their target price on shares of Maplebear from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Finally, Bank of America raised their price target on shares of Maplebear from $50.00 to $51.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 13th.
Check Out Our Latest Research Report on Maplebear
Maplebear Price Performance
Shares of NASDAQ CART traded up $1.91 during trading on Wednesday, hitting $44.82. The stock had a trading volume of 8,157,930 shares, compared to its average volume of 3,651,065. The firm has a fifty day moving average of $43.59 and a two-hundred day moving average of $39.15. Maplebear has a 12 month low of $22.25 and a 12 month high of $50.01. The company has a market capitalization of $11.51 billion, a PE ratio of 30.08, a PEG ratio of 1.08 and a beta of 1.04.
Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating 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 firm had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. During the same quarter last year, the business posted ($20.86) EPS. The company's revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities analysts expect that Maplebear will post 1.4 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, General Counsel Morgan Fong sold 11,325 shares of the company's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $42.97, for a total value of $486,635.25. Following the completion of the transaction, the general counsel now directly owns 287,659 shares in the company, valued at approximately $12,360,707.23. The trade was a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total value of $92,261.82. Following the sale, the chief accounting officer now owns 89,982 shares in the company, valued at $3,694,660.92. The trade was a 2.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,128 shares of company stock worth $4,980,404 in the last ninety days. 36.00% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Maplebear
Several institutional investors have recently modified their holdings of CART. Wilmington Savings Fund Society FSB bought a new stake in Maplebear in the 3rd quarter worth approximately $33,000. Huntington National Bank purchased a new position in shares of Maplebear during the third quarter worth approximately $54,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Maplebear in the 3rd quarter worth approximately $74,000. Quarry LP raised its position 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 purchasing an additional 2,865 shares during the period. Finally, Vinva Investment Management Ltd purchased a new position in shares of Maplebear in the third quarter worth about $212,000. 63.09% of the stock is currently owned by institutional investors.
About Maplebear
(
Get Free ReportMaplebear 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.
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