Maplebear (NASDAQ:CART - Free Report) had its price objective trimmed by JPMorgan Chase & Co. from $50.00 to $44.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.
Several other brokerages also recently issued reports on CART. Bank of America upped 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. Seaport Res Ptn raised Maplebear to a "strong-buy" rating in a research report on Wednesday, February 12th. FBN Securities assumed coverage on Maplebear in a report on Friday, March 28th. They issued a "sector perform" rating and a $44.00 target price for the company. Barclays boosted their price target on Maplebear from $56.00 to $58.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, BMO Capital Markets lifted their price objective on Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Twelve analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.61.
Check Out Our Latest Analysis on Maplebear
Maplebear Stock Performance
Shares of CART traded up $2.57 during mid-day trading on Tuesday, reaching $41.17. The company had a trading volume of 4,963,842 shares, compared to its average volume of 4,071,923. Maplebear has a 52 week low of $29.84 and a 52 week high of $53.44. The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20. The firm has a 50-day moving average price of $42.67 and a 200 day moving average price of $43.45.
Maplebear (NASDAQ:CART - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.16. The firm had revenue of $883.00 million for the quarter, compared to analysts' expectations 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 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Maplebear news, CEO Fidji Simo sold 2,033 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the sale, the chief executive officer now owns 1,654,559 shares in the company, valued at approximately $66,182,360. This represents a 0.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were 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 owns 85,421 shares in the company, valued at $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,097 shares of company stock worth $1,087,094 over the last three months. 36.00% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Maplebear
Several hedge funds have recently modified their holdings of the stock. State Street Corp increased its holdings in Maplebear by 48.3% in 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 last quarter. Janney Montgomery Scott LLC lifted its position in shares of Maplebear by 212.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock worth $992,000 after buying an additional 16,267 shares in the last quarter. Cherry Creek Investment Advisors Inc. bought a new position in Maplebear during the fourth quarter valued at approximately $235,000. US Bancorp DE grew its holdings in Maplebear by 22.3% during the 4th quarter. US Bancorp DE now owns 13,077 shares of the company's stock valued at $542,000 after buying an additional 2,387 shares in the last quarter. Finally, Nordea Investment Management AB purchased a new position in Maplebear during the 4th quarter valued at approximately $2,078,000. Hedge funds and other institutional investors own 63.09% of the company's stock.
About Maplebear
(
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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.
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