Maplebear (NASDAQ:CART - Free Report) had its price target upped by Loop Capital from $49.00 to $56.00 in a research note released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.
Other equities analysts have also recently issued reports about the company. Raymond James assumed coverage on Maplebear in a research note on Tuesday, September 24th. They issued a "market perform" rating on the stock. Oppenheimer boosted their target price on Maplebear from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Piper Sandler lifted their price target on Maplebear from $50.00 to $58.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft began 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. Finally, Jefferies Financial Group began coverage on Maplebear in a research report on Wednesday, October 16th. They set a "hold" rating and a $43.00 price target on the stock. Thirteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $47.14.
Check Out Our Latest Analysis on Maplebear
Maplebear Trading Down 3.9 %
Shares of CART stock traded down $1.72 on Monday, hitting $42.47. 4,040,593 shares of the stock were exchanged, compared to its average volume of 3,992,253. Maplebear has a one year low of $22.13 and a one year high of $50.01. The firm's 50 day moving average is $43.61 and its two-hundred day moving average is $37.53. The firm has a market capitalization of $10.91 billion, a PE ratio of 28.59, a P/E/G ratio of 1.15 and a beta of 0.94.
Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.20. The firm had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company's revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the company posted ($20.86) EPS. On average, sell-side analysts expect that Maplebear will post 1.4 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO Fidji Simo sold 20,750 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $42.97, for a total value of $891,627.50. Following the completion of the sale, the chief executive officer now directly owns 1,804,243 shares in the company, valued at $77,528,321.71. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Morgan Fong sold 10,992 shares of the company's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $41.38, for a total value of $454,848.96. Following the completion of the sale, the general counsel now owns 298,984 shares of the company's stock, valued at $12,371,957.92. This trade represents a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,954 shares of company stock valued at $4,890,405. 36.00% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Maplebear by 239.1% during the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company's stock worth $7,961,000 after buying an additional 150,544 shares during the period. Diversified Trust Co purchased a new position in shares of Maplebear during the second quarter worth $327,000. Great Valley Advisor Group Inc. boosted its position in shares of Maplebear by 32.1% during the second quarter. Great Valley Advisor Group Inc. now owns 10,300 shares of the company's stock worth $331,000 after buying an additional 2,500 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Maplebear during the second quarter worth $8,293,000. Finally, Investment House LLC acquired a new stake in shares of Maplebear in the second quarter valued at $750,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.
Maplebear Company Profile
(
Get Free Report)
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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