Maplebear (NASDAQ:CART) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Maplebear (NASDAQ:CART) in a report released on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $45.00 target price on the stock.

Other analysts also recently issued research reports about the company. Citigroup lifted their target price on Maplebear from $44.00 to $47.00 and gave the company a buy rating in a research note on Thursday, August 8th. Morgan Stanley lifted their target price on Maplebear from $43.00 to $45.00 and gave the company an equal weight rating in a research note on Tuesday, July 23rd. Benchmark restated a hold rating on shares of Maplebear in a report on Wednesday, August 7th. Macquarie raised their price target on Maplebear from $44.00 to $45.00 and gave the company an outperform rating in a report on Thursday, August 8th. Finally, Wedbush raised their price target on Maplebear from $35.00 to $38.00 and gave the company a neutral rating in a report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $43.33.

Maplebear Price Performance

Shares of CART opened at $39.46 on Monday. The business’s 50 day moving average is $35.03 and its 200 day moving average is $34.84. Maplebear has a 12-month low of $22.13 and a 12-month high of $42.58.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.07. The company had revenue of $823.00 million for the quarter, compared to the consensus estimate of $806.35 million. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Maplebear will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Alan Ramsay sold 2,626 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total transaction of $91,962.52. Following the transaction, the chief accounting officer now directly owns 107,910 shares in the company, valued at approximately $3,779,008.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Maplebear news, CAO Alan Ramsay sold 2,626 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $35.02, for a total transaction of $91,962.52. Following the sale, the chief accounting officer now owns 107,910 shares in the company, valued at approximately $3,779,008.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 owns 1,844,778 shares in the company, valued at approximately $65,065,320.06. The disclosure for this sale can be found here. Insiders have sold a total of 67,655 shares of company stock worth $2,504,824 in the last ninety days. 36.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Maplebear

Large investors have recently bought and sold shares of the business. Parallel Advisors LLC raised its holdings in Maplebear by 139.3% in the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after purchasing an additional 620 shares during the period. nVerses Capital LLC raised its holdings 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 purchasing an additional 1,600 shares during the period. Cantor Fitzgerald L. P. raised its holdings in Maplebear by 389.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after purchasing an additional 2,489 shares during the period. Kapitalo Investimentos Ltda acquired a new position in shares of Maplebear during the fourth quarter valued at approximately $69,000. Finally, Quarry LP raised its holdings in shares of Maplebear by 269.5% during 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 during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.