Maplebear Inc. (NASDAQ:CART) Receives Average Rating of “Moderate Buy” from Analysts

Maplebear Inc. (NASDAQ:CART) has been assigned an average rating of “Moderate Buy” from the twenty-six ratings firms that are presently covering the stock, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $47.14.

Several analysts recently issued reports on CART shares. Loop Capital boosted their target price on shares of Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, December 9th. JMP Securities boosted their price objective on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Maplebear in a report on Monday, October 7th. Barclays boosted their price target on Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird raised their price objective on Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th.

Maplebear Price Performance

Shares of CART opened at $42.02 on Friday. The firm has a market capitalization of $10.79 billion, a P/E ratio of 28.20, a PEG ratio of 1.08 and a beta of 0.94. Maplebear has a one year low of $22.13 and a one year high of $50.01. The business has a fifty day moving average of $43.70 and a 200 day moving average of $38.18.

Maplebear (NASDAQ:CART) last released 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. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. During the same period in the previous year, the company posted ($20.86) EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. Analysts expect that Maplebear will post 1.4 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In related news, General Counsel Morgan Fong sold 11,325 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $42.97, for a total value of $486,635.25. Following the sale, the general counsel now directly owns 287,659 shares in the company, valued at approximately $12,360,707.23. The trade was a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alan Ramsay sold 2,559 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $42.97, for a total value of $109,960.23. Following the transaction, the chief accounting officer now owns 96,666 shares of the company’s stock, valued at $4,153,738.02. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,128 shares of company stock valued at $4,980,404 in the last 90 days. Insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC increased its holdings in shares of Maplebear by 370.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 859,006 shares of the company’s stock worth $34,996,000 after buying an additional 676,605 shares during the last quarter. Franklin Resources Inc. grew its position in Maplebear by 182.0% in the third quarter. Franklin Resources Inc. now owns 272,928 shares of the company’s stock worth $11,692,000 after acquiring an additional 176,137 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Maplebear during the third quarter valued at approximately $33,000. Neo Ivy Capital Management bought a new stake in shares of Maplebear in the 3rd quarter valued at approximately $1,922,000. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of Maplebear by 1.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after purchasing an additional 490 shares during the period. Hedge funds and other institutional investors own 63.09% of the company’s stock.

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.