Brokerages Set Maplebear Inc. (NASDAQ:CART) Target Price at $51.09

Shares of Maplebear Inc. (NASDAQ:CART) have earned a consensus recommendation of “Moderate Buy” from the twenty-five research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $51.8636.

Several research firms have commented on CART. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Barclays boosted their price target on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Raymond James Financial upgraded Maplebear from a “hold” rating to a “moderate buy” rating in a research note on Thursday, April 9th. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of Maplebear in a report on Thursday, May 7th. Finally, Wedbush started coverage on Maplebear in a research note on Thursday. They issued an “outperform” rating and a $59.00 price objective on the stock.

Insider Transactions at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the sale, the director directly owned 741,523 shares in the company, valued at approximately $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CART. Viking Global Investors LP bought a new stake in shares of Maplebear in the second quarter valued at approximately $169,782,000. Marshall Wace LLP bought a new stake in Maplebear in the 4th quarter valued at $126,206,000. Holocene Advisors LP bought a new stake in Maplebear in the 3rd quarter valued at $90,167,000. Norges Bank bought a new stake in Maplebear in the 4th quarter valued at $97,221,000. Finally, Dimensional Fund Advisors LP grew its position in Maplebear by 114.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock worth $170,594,000 after purchasing an additional 2,026,567 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Stock Down 2.9%

NASDAQ CART opened at $46.23 on Friday. The stock has a market capitalization of $10.87 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 0.65 and a beta of 0.75. Maplebear has a 12-month low of $32.73 and a 12-month high of $53.50. The company has a 50 day moving average price of $43.39 and a two-hundred day moving average price of $40.62.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $0.37 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, equities analysts anticipate that Maplebear will post 2.45 EPS for the current year.

Maplebear Company Profile

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.