Maplebear (NASDAQ:CART) Price Target Raised to $52.00

Maplebear (NASDAQ:CART) had its price target increased by Macquarie from $50.00 to $52.00 in a research report released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Morgan Stanley lowered their price objective on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 24th. Citigroup upped their target price on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Bank of America lifted their price target on Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $47.29.

Maplebear Trading Down 2.2 %

CART opened at $42.00 on Thursday. Maplebear has a 12 month low of $22.13 and a 12 month high of $50.01. The stock has a fifty day moving average price of $42.17 and a 200-day moving average price of $36.62. The firm has a market cap of $10.95 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 1.30 and a beta of 1.12.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.32%. The firm had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. During the same quarter in the previous year, the business posted ($20.86) EPS. Maplebear’s revenue was up 11.5% on a year-over-year basis. On average, equities research analysts forecast that Maplebear will post 1.2 EPS for the current year.

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Fidji Simo sold 33,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total value of $1,163,910.00. Following the completion of the sale, the chief executive officer now directly owns 1,844,778 shares in the company, valued at $65,065,320.06. This represents a 1.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Morgan Fong sold 29,253 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $48.03, for a total value of $1,405,021.59. Following the completion of the sale, the general counsel now directly owns 258,406 shares of the company’s stock, valued at $12,411,240.18. This trade represents a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,710 shares of company stock worth $4,978,164. Insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

Several hedge funds have recently made changes to their positions in CART. Pacer Advisors Inc. purchased a new stake in shares of Maplebear during the 3rd quarter valued at approximately $158,701,000. Geode Capital Management LLC increased its stake in Maplebear by 151.7% during the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after acquiring an additional 1,647,081 shares during the last quarter. Maverick Capital Ltd. raised its position in Maplebear by 19.7% in the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock valued at $109,363,000 after purchasing an additional 441,156 shares during the period. State Street Corp lifted its stake in shares of Maplebear by 48.3% in the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company’s stock valued at $103,994,000 after purchasing an additional 831,795 shares during the last quarter. Finally, Southpoint Capital Advisors LP grew its holdings in shares of Maplebear by 56.3% during the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock worth $101,850,000 after purchasing an additional 900,000 shares during the period. Hedge funds and other institutional investors 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.