Seaport Res Ptn upgraded shares of Maplebear (NASDAQ:CART - Free Report) to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports. Seaport Res Ptn also issued estimates for Maplebear's Q4 2024 earnings at $0.40 EPS, FY2024 earnings at $1.47 EPS, Q1 2025 earnings at $0.40 EPS, Q2 2025 earnings at $0.37 EPS, Q3 2025 earnings at $0.37 EPS, Q4 2025 earnings at $0.42 EPS, FY2025 earnings at $1.55 EPS and FY2026 earnings at $1.79 EPS.
A number of other brokerages have also recently commented on CART. Wells Fargo & Company initiated coverage on Maplebear in a research report on Friday, January 10th. They issued an "equal weight" rating and a $47.00 price target for the company. Mizuho began coverage on shares of Maplebear in a report on Tuesday, January 14th. They issued an "outperform" rating and a $55.00 target price for the company. Stifel Nicolaus lifted their price target on shares of Maplebear from $52.00 to $55.00 and gave the company a "buy" rating in a report on Monday, October 28th. Bank of America increased their price objective 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. Finally, Oppenheimer lifted their target price 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. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Maplebear currently has a consensus rating of "Moderate Buy" and an average price target of $48.96.
View Our Latest Analysis on Maplebear
Maplebear Stock Performance
Shares of CART stock traded up $0.98 during mid-day trading on Wednesday, reaching $50.97. 2,384,031 shares of the company's stock traded hands, compared to its average volume of 4,314,468. Maplebear has a 12 month low of $24.52 and a 12 month high of $51.33. The firm has a 50 day moving average price of $45.22 and a two-hundred day moving average price of $41.73. The firm has a market capitalization of $13.09 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07.
Insider Buying and Selling
In other news, CAO Alan Ramsay sold 2,247 shares of the business'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 completion of the sale, the chief accounting officer now owns 89,982 shares in the company, valued at approximately $3,694,660.92. The trade was a 2.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $891,627.50. Following the completion of the sale, the chief executive officer now directly owns 1,804,243 shares of the company's stock, valued at $77,528,321.71. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,555 shares of company stock valued at $2,164,787 over the last quarter. 36.00% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the company. Man Group plc acquired a new position in shares of Maplebear during the fourth quarter worth $15,023,000. Numerai GP LLC grew its stake in shares of Maplebear by 51.3% during the fourth quarter. Numerai GP LLC now owns 43,079 shares of the company's stock worth $1,784,000 after acquiring an additional 14,611 shares during the last quarter. Maytus Capital Management LLC increased its holdings in shares of Maplebear by 21.5% during the fourth quarter. Maytus Capital Management LLC now owns 151,828 shares of the company's stock valued at $6,289,000 after acquiring an additional 26,828 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Maplebear in the 4th quarter worth approximately $263,000. Finally, Invenomic Capital Management LP boosted its stake in Maplebear by 15.3% in the 4th quarter. Invenomic Capital Management LP now owns 351,974 shares of the company's stock worth $14,579,000 after purchasing an additional 46,807 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.
Maplebear Company Profile
(
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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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