Maplebear (NASDAQ:CART) Research Coverage Started at FBN Securities

FBN Securities initiated coverage on shares of Maplebear (NASDAQ:CART) in a report published on Friday, Marketbeat reports. The brokerage issued a sector perform rating and a $44.00 price objective on the stock.

A number of other research analysts have also weighed in on the stock. Wedbush cut their price target on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Loop Capital lowered their price objective on shares of Maplebear from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Barclays increased their price target on Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Morgan Stanley raised their price objective on shares of Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their target price on Maplebear from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Fourteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.25.

Maplebear Stock Performance

NASDAQ:CART opened at $39.73 on Friday. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 26.66, 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. The stock’s fifty day moving average price is $44.59 and its two-hundred day moving average price is $43.54.

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

Insider Activity

In other news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the sale, the chief executive officer now owns 1,662,692 shares of the company’s stock, valued at approximately $72,011,190.52. This represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,097 shares of company stock valued at $1,087,094 over the last quarter. 36.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its stake in Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after purchasing an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Maplebear in the 3rd quarter valued at about $33,000. Allworth Financial LP raised its stake in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after buying an additional 420 shares during the period. NewEdge Advisors LLC boosted its holdings in Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after acquiring an additional 717 shares in the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in Maplebear in the fourth quarter worth approximately $46,000. 63.09% of the stock is owned by 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.