Maplebear (NASDAQ:CART) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Maplebear (NASDAQ:CART) had its target price boosted by stock analysts at BMO Capital Markets from $48.00 to $49.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 10.57% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Robert W. Baird boosted their price target on Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. JMP Securities boosted their target price on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Piper Sandler lifted their price target on shares of Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Morgan Stanley increased their price objective on shares of Maplebear from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Macquarie upped their target price on Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $49.64.

Maplebear Price Performance

CART traded down $4.47 during trading on Wednesday, hitting $44.32. The company had a trading volume of 2,964,429 shares, compared to its average volume of 4,191,462. Maplebear has a 1-year low of $29.84 and a 1-year high of $53.44. The company has a market cap of $11.38 billion, a PE ratio of 29.74, a P/E/G ratio of 1.19 and a beta of 1.07. The business has a 50-day moving average of $46.46 and a 200-day moving average of $42.68.

Maplebear (NASDAQ:CART) last issued its earnings results 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. The business had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Research analysts forecast that Maplebear will post 1.43 earnings per share for the current year.

Insiders Place Their Bets

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the transaction, the chief executive officer now owns 1,771,993 shares in the company, valued at $75,734,980.82. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,311 shares of company stock worth $1,088,636 in the last quarter. 36.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Maplebear

Several large investors have recently made changes to their positions in CART. Jones Financial Companies Lllp raised its position in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after acquiring an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Maplebear in the third quarter worth approximately $33,000. Allworth Financial LP increased its stake in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after purchasing an additional 420 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after purchasing an additional 717 shares in the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in shares of Maplebear during the 4th quarter valued at $46,000. 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.