Cantor Fitzgerald Boosts Maplebear (NASDAQ:CART) Price Target to $54.00

Maplebear (NASDAQ:CART) had its target price increased by Cantor Fitzgerald from $45.00 to $54.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 31.16% from the stock’s previous close.

CART has been the subject of several other reports. Argus started coverage on Maplebear in a research note on Wednesday. They issued a “buy” rating and a $52.00 price objective for the company. Guggenheim initiated coverage on shares of Maplebear in a research report on Wednesday, October 15th. They set a “neutral” rating and a $40.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of Maplebear from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Piper Sandler lowered shares of Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research note on Friday, October 3rd. Finally, BMO Capital Markets raised shares of Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.16.

Maplebear Price Performance

Shares of CART opened at $41.17 on Thursday. The company’s fifty day moving average price is $42.50 and its 200-day moving average price is $43.56. Maplebear has a 1-year low of $34.78 and a 1-year high of $53.50. The firm has a market capitalization of $10.81 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.10 and a beta of 0.97.

Maplebear (NASDAQ:CART) last issued 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 company had revenue of $939.00 million during the quarter, compared to analyst estimates of $933.76 million. During the same quarter last year, the business posted $0.42 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, research analysts anticipate that Maplebear will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of Maplebear stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total value of $222,161.94. Following the completion of the transaction, the general counsel owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fidji Simo sold 3,051 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $39.60, for a total transaction of $120,819.60. Following the sale, the director directly owned 570,756 shares in the company, valued at approximately $22,601,937.60. The trade was a 0.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 12,525 shares of company stock valued at $521,304. Company insiders own 26.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

Several institutional investors and hedge funds have recently modified their holdings of CART. Hantz Financial Services Inc. boosted its position in Maplebear by 78.6% during the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after purchasing an additional 389 shares in the last quarter. Allworth Financial LP raised its stake in shares of Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after buying an additional 244 shares during the period. Abich Financial Wealth Management LLC purchased a new position in shares of Maplebear during the 3rd quarter valued at approximately $43,000. Sunbelt Securities Inc. lifted its position in shares of Maplebear by 212.7% during the 3rd 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. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Maplebear in the 2nd quarter valued at $53,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.