Maplebear Inc. (NASDAQ:CART) Receives $50.52 Average PT from Brokerages

Shares of Maplebear Inc. (NASDAQ:CART) have earned a consensus recommendation of “Moderate Buy” from the twenty-nine analysts that are covering the company, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $50.52.

Several analysts have recently commented on CART shares. Benchmark restated a “hold” rating on shares of Maplebear in a research report on Wednesday, February 26th. BTIG Research raised Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Tuesday, January 14th. Wedbush dropped their price objective on Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Mizuho cut their target price on Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Oppenheimer dropped their price target on Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th.

Maplebear Stock Performance

NASDAQ:CART opened at $40.35 on Monday. The stock has a 50-day simple moving average of $44.85 and a two-hundred day simple moving average of $43.41. The firm has a market capitalization of $10.68 billion, a PE ratio of 27.08, a P/E/G ratio of 1.19 and a beta of 1.34. Maplebear has a 52-week low of $29.84 and a 52-week high of $53.44.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Equities analysts forecast that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Maplebear

In related news, CAO Alan Ramsay sold 2,314 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Fidji Simo sold 2,033 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the sale, the chief executive officer now directly owns 1,654,559 shares of the company’s stock, valued at approximately $66,182,360. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,097 shares of company stock worth $1,087,094 over the last 90 days. Company insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in Maplebear by 867.0% in the fourth quarter. Wellington Management Group LLP now owns 554,882 shares of the company’s stock worth $22,983,000 after purchasing an additional 497,499 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Maplebear in the 4th quarter worth $3,086,000. Mackenzie Financial Corp grew its position in shares of Maplebear by 559.1% during the 4th quarter. Mackenzie Financial Corp now owns 162,111 shares of the company’s stock worth $6,715,000 after buying an additional 137,514 shares in the last quarter. Cache Advisors LLC purchased a new position in shares of Maplebear during the fourth quarter valued at $304,000. Finally, WCG Wealth Advisors LLC raised its holdings in shares of Maplebear by 3.3% in the fourth quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company’s stock valued at $590,000 after acquiring an additional 451 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

About Maplebear

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.