Stifel Nicolaus Has Lowered Expectations for Maplebear (NASDAQ:CART) Stock Price

Maplebear (NASDAQ:CART) had its price objective cut by analysts at Stifel Nicolaus from $49.00 to $46.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 21.63% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Robert W. Baird lowered their price target on shares of Maplebear from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Needham & Company LLC decreased their price objective on shares of Maplebear from $66.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. BTIG Research reissued a “neutral” rating and set a $55.00 target price on shares of Maplebear in a research note on Tuesday, September 30th. Fox Advisors cut Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Finally, Mizuho initiated coverage on Maplebear in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $45.00 price target for the company. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Maplebear presently has a consensus rating of “Hold” and an average price target of $51.62.

Maplebear Stock Down 0.4%

Shares of CART opened at $37.82 on Tuesday. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 0.97 and a beta of 0.97. Maplebear has a 52 week low of $34.78 and a 52 week high of $53.50. The stock’s 50-day moving average price is $42.74 and its 200-day moving average price is $42.91.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $933.76 million. Maplebear’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. As a group, equities analysts anticipate that Maplebear will post 1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Morgan Fong sold 4,914 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $45.21, for a total value of $222,161.94. Following the transaction, the general counsel directly owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. This trade represents a 1.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 26.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

A number of hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its stake in shares of Maplebear by 78.6% in the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after acquiring an additional 389 shares during the last quarter. Allworth Financial LP lifted its holdings in Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after purchasing an additional 244 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in Maplebear in the 3rd quarter valued at $43,000. Sunbelt Securities Inc. boosted its stake in Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after purchasing an additional 787 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Maplebear during the second quarter worth $53,000. Institutional investors and hedge funds 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.