Maplebear Inc. (NASDAQ:CART) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Maplebear Inc. (NASDAQ:CART) has received a consensus rating of “Moderate Buy” from the twenty-five brokerages that are presently covering the firm, MarketBeat Ratings reports. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $47.29.

Several analysts recently weighed in on the company. Bank of America upped their price target on Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Citigroup raised their price target on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Oppenheimer lifted their price target on Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Macquarie raised their price objective on shares of Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, Robert W. Baird lifted their target price on shares of Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th.

Maplebear Trading Up 0.9 %

Shares of Maplebear stock opened at $43.61 on Tuesday. Maplebear has a 12 month low of $22.13 and a 12 month high of $50.01. The firm has a market capitalization of $11.20 billion, a P/E ratio of 29.27, a P/E/G ratio of 1.12 and a beta of 1.12. The business has a fifty day simple moving average of $42.95 and a two-hundred day simple moving average of $36.88.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. The company had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Maplebear’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the company posted ($20.86) EPS. Analysts predict that Maplebear will post 1.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Alan Ramsay sold 2,247 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total value of $92,261.82. Following the transaction, the chief accounting officer now directly owns 89,982 shares of the company’s stock, valued at approximately $3,694,660.92. This trade represents a 2.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fidji Simo sold 33,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total value of $1,163,910.00. Following the sale, the chief executive officer now directly owns 1,844,778 shares of the company’s stock, valued at $65,065,320.06. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 123,204 shares of company stock worth $5,162,688. Company insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Maplebear in the third quarter worth approximately $33,000. Huntington National Bank bought a new position in Maplebear in the 3rd quarter worth $54,000. nVerses Capital LLC increased its stake in Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after buying an additional 1,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Maplebear during the third quarter valued at about $74,000. Finally, Quarry LP lifted its position in shares of Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after acquiring an additional 2,865 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Company Profile

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.