Analysts Set Maplebear Inc. (NASDAQ:CART) PT at $51.40

Shares of Maplebear Inc. (NASDAQ:CART) have been assigned an average recommendation of “Moderate Buy” from the twenty-seven analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, fourteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $52.00.

Several brokerages have recently issued reports on CART. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Maplebear in a research note on Monday. BTIG Research restated a “neutral” rating and set a $55.00 target price on shares of Maplebear in a report on Tuesday, September 30th. Guggenheim began coverage on shares of Maplebear in a research report on Wednesday, October 15th. They issued a “neutral” rating and a $40.00 price target on the stock. Wall Street Zen downgraded Maplebear from a “buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Benchmark reduced their price objective on Maplebear from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th.

Insider Activity at Maplebear

In other Maplebear news, CEO Chris Rogers sold 9,259 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $42.37, for a total value of $392,303.83. Following the completion of the transaction, the chief executive officer directly owned 739,880 shares in the company, valued at $31,348,715.60. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Fidji Simo sold 7,140 shares of Maplebear stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.30, for a total transaction of $337,722.00. Following the completion of the transaction, the director directly owned 573,807 shares in the company, valued at approximately $27,141,071.10. This trade represents a 1.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,556 shares of company stock worth $1,179,482 in the last quarter. 26.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Maplebear

Hedge funds have recently made changes to their positions in the company. Allworth Financial LP boosted its stake in Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after purchasing an additional 244 shares during the period. Swiss Life Asset Management Ltd lifted its holdings in shares of Maplebear by 74.9% in the third quarter. Swiss Life Asset Management Ltd now owns 7,784 shares of the company’s stock valued at $286,000 after purchasing an additional 3,333 shares in the last quarter. Cambria Investment Management L.P. lifted its holdings in shares of Maplebear by 22.0% in the third quarter. Cambria Investment Management L.P. now owns 6,903 shares of the company’s stock valued at $254,000 after purchasing an additional 1,247 shares in the last quarter. Liontrust Investment Partners LLP acquired a new stake in shares of Maplebear in the third quarter worth $8,703,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of Maplebear by 212.7% during the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after buying an additional 787 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

CART opened at $42.62 on Friday. The company has a market capitalization of $11.19 billion, a PE ratio of 23.42, a P/E/G ratio of 1.36 and a beta of 1.01. The stock’s fifty day moving average is $39.31 and its 200-day moving average is $43.68. Maplebear has a one year low of $34.78 and a one year high of $53.50.

Maplebear (NASDAQ:CART) last released its earnings results on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The firm had revenue of $939.00 million for the quarter, compared to analyst estimates of $933.76 million. During the same period in the previous year, the company earned $0.42 earnings per share. Maplebear’s revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Maplebear will post 1.43 EPS for the current fiscal year.

About Maplebear

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.