Maplebear Inc. (NASDAQ:CART) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Maplebear Inc. (NASDAQ:CART) have been assigned an average rating of “Moderate Buy” from the twenty-seven analysts that are covering the company, MarketBeat reports. Twelve analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $51.91.

CART has been the topic of a number of recent analyst reports. Citigroup boosted their price objective on Maplebear from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Jefferies Financial Group boosted their price objective on Maplebear from $48.00 to $50.00 and gave the stock a “hold” rating in a research note on Tuesday, May 27th. Morgan Stanley boosted their price objective on Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Stifel Nicolaus reduced their price objective on Maplebear from $57.00 to $54.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Wedbush reduced their price objective on Maplebear from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th.

Maplebear Price Performance

Shares of CART stock opened at $43.37 on Friday. The stock’s fifty day simple moving average is $43.76 and its 200 day simple moving average is $43.73. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 29.11, a P/E/G ratio of 1.19 and a beta of 1.30. Maplebear has a one year low of $29.84 and a one year high of $53.44.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Maplebear’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS. On average, research analysts anticipate that Maplebear will post 1.43 earnings per share for the current year.

Insider Activity at Maplebear

In related news, CEO Fidji Simo sold 8,133 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the sale, the chief executive officer now owns 1,646,426 shares in the company, valued at approximately $68,491,321.60. This represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $47.45, for a total value of $200,476.25. Following the completion of the sale, the director now owns 20,829 shares of the company’s stock, valued at $988,336.05. This represents a 16.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,640 shares of company stock worth $843,579. 26.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Maplebear

A number of hedge funds have recently modified their holdings of CART. Proathlete Wealth Management LLC acquired a new stake in shares of Maplebear during the first quarter worth about $26,000. Jones Financial Companies Lllp raised its position in shares of 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 purchasing an additional 222 shares during the period. Allworth Financial LP raised 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 purchasing an additional 420 shares during the period. NewEdge Advisors LLC raised its position in shares of Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after purchasing an additional 717 shares during the period. Finally, UMB Bank n.a. raised its position in shares of Maplebear by 914.1% during the first quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock worth $40,000 after purchasing an additional 905 shares during the period. Institutional investors and hedge funds 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.