Morgan Stanley Issues Positive Forecast for Maplebear (NASDAQ:CART) Stock Price

Maplebear (NASDAQ:CART) had its price target upped by Morgan Stanley from $44.00 to $45.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other research analysts also recently issued research reports about the company. 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. Oppenheimer increased their target price on Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. JMP Securities raised their target price on Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and issued a $56.00 price target on shares of Maplebear in a research report on Wednesday. Finally, Mizuho began coverage on shares of Maplebear in a research note on Tuesday, January 14th. They set an “outperform” rating and a $55.00 price objective on the stock. Thirteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.80.

Maplebear Trading Down 12.3 %

Shares of NASDAQ:CART opened at $42.80 on Wednesday. Maplebear has a 1-year low of $29.84 and a 1-year high of $53.44. The stock has a market capitalization of $11.00 billion, a P/E ratio of 28.72, a P/E/G ratio of 1.19 and a beta of 1.07. The business has a 50-day moving average price of $46.48 and a two-hundred day moving average price of $42.68.

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

Insider Transactions at Maplebear

In related news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the transaction, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the completion of the transaction, the chief accounting officer now owns 87,735 shares of the company’s stock, valued at approximately $3,697,152.90. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,311 shares of company stock valued at $1,088,636 over the last 90 days. 36.00% of the stock is 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 increased its holdings in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after buying an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Maplebear during the 3rd quarter worth about $33,000. Allworth Financial LP raised its holdings in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares during the period. NewEdge Advisors LLC lifted its stake in Maplebear by 277.9% in 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 during the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in Maplebear in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

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.