Maplebear (NASDAQ:CART) Now Covered by Mizuho

Investment analysts at Mizuho initiated coverage on shares of Maplebear (NASDAQ:CART - Get Free Report) in a research note issued on Tuesday, Marketbeat.com reports. The firm set an "outperform" rating and a $55.00 price target on the stock. Mizuho's price objective would suggest a potential upside of 18.41% from the company's current price.

Several other equities research analysts have also issued reports on the stock. Stifel Nicolaus raised their price target on shares of Maplebear from $52.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Morgan Stanley upped their price objective on shares of Maplebear from $41.00 to $44.00 and gave the stock an "equal weight" rating in a report on Monday. BMO Capital Markets lifted their price target on Maplebear from $39.00 to $48.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 13th. Cantor Fitzgerald restated an "overweight" rating and set a $45.00 price objective on shares of Maplebear in a research report on Monday, October 7th. Finally, Loop Capital lifted their target price on Maplebear from $49.00 to $56.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Thirteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $48.31.

Maplebear Price Performance

Shares of NASDAQ CART traded up $1.94 during midday trading on Tuesday, reaching $46.45. 6,670,030 shares of the stock were exchanged, compared to its average volume of 7,139,824. The business has a 50-day simple moving average of $43.61 and a two-hundred day simple moving average of $39.57. Maplebear has a 12 month low of $22.70 and a 12 month high of $50.01. The company has a market capitalization of $11.93 billion, a price-to-earnings ratio of 31.17, a P/E/G ratio of 1.08 and a beta of 1.04.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $852.00 million during the quarter, compared to analysts' expectations of $844.03 million. During the same period last year, the firm posted ($20.86) EPS. The firm's revenue for the quarter was up 11.5% compared to the same quarter last year. Equities research analysts expect that Maplebear will post 1.4 earnings per share for the current fiscal year.

Insider Activity at Maplebear

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

Hedge Funds Weigh In On Maplebear

Several hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Asset Management Inc increased its position in Maplebear by 3.7% in the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company's stock worth $331,000 after buying an additional 286 shares in the last quarter. Coldstream Capital Management Inc. grew its position in shares of Maplebear by 1.6% during the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company's stock worth $1,294,000 after purchasing an additional 490 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Maplebear by 5.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company's stock worth $493,000 after purchasing an additional 584 shares in the last quarter. Pier Capital LLC boosted its stake in Maplebear by 0.4% in the 3rd quarter. Pier Capital LLC now owns 151,604 shares of the company's stock worth $6,176,000 after purchasing an additional 616 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Maplebear during the third quarter worth $33,000. 63.09% of the stock is owned by 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.