Maplebear's (CART) Market Outperform Rating Reiterated at JMP Securities

Maplebear (NASDAQ:CART - Get Free Report)'s stock had its "market outperform" rating reaffirmed by investment analysts at JMP Securities in a research note issued on Friday,Benzinga reports. They presently have a $55.00 target price on the stock. JMP Securities' price target would indicate a potential upside of 31.39% from the company's current price.

Several other analysts also recently commented on CART. BMO Capital Markets increased their target price on shares of Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. Oppenheimer reduced their price objective on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC reiterated a "buy" rating and set a $56.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Morgan Stanley boosted their price objective on shares of Maplebear from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Finally, Bank of America increased their target price on shares of Maplebear from $51.00 to $53.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Twelve investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Maplebear currently has a consensus rating of "Moderate Buy" and an average target price of $50.61.

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Maplebear Trading Up 0.1 %

NASDAQ CART traded up $0.06 during mid-day trading on Friday, hitting $41.86. The company's stock had a trading volume of 3,321,497 shares, compared to its average volume of 4,072,276. The company's 50 day simple moving average is $42.54 and its 200 day simple moving average is $43.49. Maplebear has a twelve month low of $29.84 and a twelve month high of $53.44. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 1.19 and a beta of 1.20.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly 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 business had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. As a group, research analysts forecast that Maplebear will post 1.43 EPS for the current year.

Insider Buying and Selling

In related news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the sale, the chief accounting officer now directly owns 85,421 shares of the company's stock, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at $66,182,360. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,097 shares of company stock valued at $1,087,094 over the last three months. Corporate insiders own 36.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CART. State Street Corp lifted its stake in Maplebear by 48.3% during the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company's stock valued at $103,994,000 after acquiring an additional 831,795 shares during the period. Janney Montgomery Scott LLC grew its position in Maplebear by 212.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock worth $992,000 after purchasing an additional 16,267 shares during the period. Cherry Creek Investment Advisors Inc. purchased a new position in shares of Maplebear in the 4th quarter worth $235,000. US Bancorp DE grew its holdings in shares of Maplebear by 22.3% in the fourth quarter. US Bancorp DE now owns 13,077 shares of the company's stock worth $542,000 after acquiring an additional 2,387 shares during the period. Finally, Nordea Investment Management AB bought a new position in Maplebear in the fourth quarter valued at about $2,078,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

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.