Maplebear (NASDAQ:CART) Price Target Lowered to $52.00 at Mizuho

Maplebear (NASDAQ:CART) had its price objective decreased by analysts at Mizuho from $55.00 to $52.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 18.74% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Bank of America boosted their price target on Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday. Seaport Res Ptn raised Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Barclays boosted their price objective on Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday. Wedbush reduced their price target on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Stifel Nicolaus lifted their price objective on shares of Maplebear from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday. Thirteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.88.

Maplebear Price Performance

Maplebear stock traded down $4.99 during trading hours on Wednesday, reaching $43.79. The company had a trading volume of 5,541,054 shares, compared to its average volume of 4,269,553. The company has a 50-day moving average price of $46.46 and a 200 day moving average price of $42.68. Maplebear has a 12-month low of $29.84 and a 12-month high of $53.44. The firm has a market cap of $11.25 billion, a price-to-earnings ratio of 29.22, a P/E/G ratio of 1.19 and a beta of 1.07.

Maplebear (NASDAQ:CART) last issued its quarterly 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. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $883.00 million during the quarter, compared to analysts’ expectations of $889.98 million. As a group, research analysts expect that Maplebear will post 1.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 2,314 shares of Maplebear 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 owns 85,421 shares in the company, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of Maplebear 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 owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,311 shares of company stock worth $1,088,636 over the last 90 days. Corporate insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

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