Maplebear Inc. (NASDAQ:CART) Given Average Recommendation of “Hold” by Brokerages

Maplebear Inc. (NASDAQ:CART) has been given a consensus rating of “Hold” by the thirty analysts that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $51.7308.

Several research firms have recently weighed in on CART. Jefferies Financial Group upped their price target on shares of Maplebear from $41.00 to $48.00 and gave the company a “hold” rating in a report on Thursday, December 11th. Mizuho assumed coverage on shares of Maplebear in a research report on Tuesday, September 30th. They issued a “neutral” rating and a $45.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a report on Monday, December 29th. Fox Advisors downgraded Maplebear from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 18th. Finally, Piper Sandler cut Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research report on Friday, October 3rd.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $45.21, for a total transaction of $222,161.94. Following the completion of the transaction, the general counsel owned 404,940 shares of the company’s stock, valued at $18,307,337.40. This represents a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 26.00% of the stock is currently owned by company insiders.

Institutional Trading of Maplebear

A number of institutional investors have recently made changes to their positions in CART. State Street Corp boosted its stake in Maplebear by 1.3% in the second quarter. State Street Corp now owns 5,101,870 shares of the company’s stock valued at $230,809,000 after acquiring an additional 66,588 shares during the last quarter. Boston Partners lifted its stake in Maplebear by 93.3% in the second quarter. Boston Partners now owns 3,961,838 shares of the company’s stock valued at $179,261,000 after purchasing an additional 1,911,771 shares during the last quarter. Viking Global Investors LP purchased a new position in Maplebear in the second quarter valued at approximately $169,782,000. William Blair Investment Management LLC bought a new position in Maplebear during the second quarter valued at $151,364,000. Finally, Federated Hermes Inc. increased its position in Maplebear by 12.3% in the second quarter. Federated Hermes Inc. now owns 3,179,537 shares of the company’s stock worth $143,842,000 after buying an additional 347,153 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Maplebear Price Performance

Shares of Maplebear stock opened at $39.41 on Friday. The company has a market capitalization of $10.35 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. The business has a 50-day moving average of $42.92 and a two-hundred day moving average of $43.41. Maplebear has a 1 year low of $34.78 and a 1 year high of $53.50.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The business had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $933.76 million. During the same quarter in the previous year, the business posted $0.42 EPS. Maplebear’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts anticipate that Maplebear will post 1.43 EPS for the current fiscal year.

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.