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

Maplebear Inc. (NASDAQ:CART) has been assigned a consensus rating of “Moderate Buy” from the twenty-six brokerages that are presently covering the firm, MarketBeat.com reports. Ten research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $52.30.

A number of research analysts have issued reports on the stock. Loop Capital boosted their target price on shares of Maplebear from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Jefferies Financial Group boosted their target price on shares of Maplebear from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, May 27th. Barclays boosted their target price on shares of Maplebear from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Macquarie reissued an “outperform” rating and set a $55.00 target price on shares of Maplebear in a research note on Tuesday, May 6th. Finally, Wall Street Zen lowered Maplebear from a “buy” rating to a “hold” rating in a research report on Friday, May 30th.

Insider Buying and Selling at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 4,680 shares of the company’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $49.16, for a total value of $230,068.80. Following the completion of the sale, the general counsel directly owned 452,000 shares of the company’s stock, valued at approximately $22,220,320. This represents a 1.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 6,640 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $50.00, for a total transaction of $332,000.00. Following the completion of the sale, the chief executive officer directly owned 1,958,805 shares of the company’s stock, valued at $97,940,250. The trade was a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,055 shares of company stock valued at $5,467,860 over the last 90 days. Insiders own 26.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Institutional investors and hedge funds have recently bought and sold shares of the business. Proathlete Wealth Management LLC purchased a new stake in Maplebear during the first quarter valued at about $26,000. NewEdge Advisors LLC lifted its stake in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after buying an additional 717 shares in the last quarter. UMB Bank n.a. lifted its stake in Maplebear by 914.1% during the first quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock valued at $40,000 after buying an additional 905 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Maplebear during the first quarter valued at about $40,000. Finally, Spire Wealth Management purchased a new stake in Maplebear during the first quarter valued at about $41,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Price Performance

CART stock opened at $48.41 on Friday. Maplebear has a 1-year low of $29.84 and a 1-year high of $53.44. The firm has a fifty day moving average price of $46.41 and a two-hundred day moving average price of $44.51. The firm has a market cap of $12.71 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 2.04 and a beta of 1.21.

Maplebear (NASDAQ:CART) last released its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a net margin of 12.45% and a return on equity of 14.12%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 EPS. As a group, analysts expect that Maplebear will post 1.43 EPS for the current fiscal year.

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.