Maplebear (NASDAQ:CART) Shares Gap Up - Still a Buy?

Maplebear Inc. (NASDAQ:CART - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $42.91, but opened at $44.96. Maplebear shares last traded at $44.57, with a volume of 1,102,106 shares traded.

Analyst Upgrades and Downgrades

CART has been the topic of a number of recent research reports. BMO Capital Markets boosted their target price on Maplebear from $39.00 to $48.00 and gave the company a "market perform" rating in a report on Wednesday, November 13th. Oppenheimer boosted their price objective on shares of Maplebear from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on shares of Maplebear from $47.00 to $52.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Morgan Stanley lowered their target price on shares of Maplebear from $45.00 to $41.00 and set an "equal weight" rating on the stock in a report on Tuesday, September 24th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $45.00 price target on shares of Maplebear in a report on Monday, October 7th. Thirteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Maplebear has an average rating of "Moderate Buy" and an average price target of $47.14.

Maplebear Stock Performance

The business has a fifty day simple moving average of $43.59 and a 200 day simple moving average of $39.15. The stock has a market cap of $11.51 billion, a price-to-earnings 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, topping analysts' consensus estimates of $0.22 by $0.20. The firm had revenue of $852.00 million during the quarter, compared to analysts' expectations of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted ($20.86) EPS. On average, equities research analysts anticipate that Maplebear Inc. will post 1.4 EPS for the current fiscal year.

Insider Activity

In other Maplebear news, General Counsel Morgan Fong sold 11,325 shares of the firm's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $42.97, for a total value of $486,635.25. Following the sale, the general counsel now directly owns 287,659 shares of the company's stock, valued at approximately $12,360,707.23. This trade represents a 3.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the company's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $44.39, for a total transaction of $921,092.50. Following the transaction, the chief executive officer now directly owns 1,803,278 shares of the company's stock, valued at approximately $80,047,510.42. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,128 shares of company stock valued at $4,980,404 over the last 90 days. Insiders own 36.00% of the company's stock.

Institutional Trading of Maplebear

Several institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB purchased a new stake in shares of Maplebear during the 4th quarter worth about $2,078,000. Lord Abbett & CO. LLC grew its stake in Maplebear by 370.9% during the third quarter. Lord Abbett & CO. LLC now owns 859,006 shares of the company's stock worth $34,996,000 after buying an additional 676,605 shares during the period. Franklin Resources Inc. increased its position in shares of Maplebear by 182.0% in the third quarter. Franklin Resources Inc. now owns 272,928 shares of the company's stock worth $11,692,000 after acquiring an additional 176,137 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Maplebear in the third quarter worth $33,000. Finally, Neo Ivy Capital Management purchased a new stake in Maplebear during the 3rd quarter worth $1,922,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

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.