Maplebear Inc. (NASDAQ:CART) Receives $52.21 Consensus Price Target from Analysts

Shares of Maplebear Inc. (NASDAQ:CART) have been assigned an average recommendation of “Moderate Buy” from the twenty-seven brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $52.2083.

A number of equities analysts have issued reports on CART shares. BMO Capital Markets raised shares of Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research note on Tuesday, November 11th. Wall Street Zen lowered Maplebear from a “buy” rating to a “hold” rating in a research report on Monday, September 29th. Citigroup decreased their price objective on Maplebear from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Maplebear in a research note on Monday. Finally, Wells Fargo & Company reduced their target price on Maplebear from $57.00 to $47.00 and set an “equal weight” rating on the stock in a report on Friday, October 3rd.

Insider Buying and Selling

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total value of $222,161.94. Following the completion of the sale, the general counsel owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. This represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fidji Simo sold 1,014 shares of the stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $40.00, for a total transaction of $40,560.00. Following the completion of the sale, the director owned 569,742 shares in the company, valued at approximately $22,789,680. This trade represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,525 shares of company stock worth $521,304 over the last quarter. 26.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Maplebear

Large investors have recently made changes to their positions in the company. State Street Corp lifted its holdings in Maplebear by 1.3% during the second quarter. State Street Corp now owns 5,101,870 shares of the company’s stock worth $230,809,000 after acquiring an additional 66,588 shares in the last quarter. Boston Partners lifted its holdings in shares of Maplebear by 93.3% during the 2nd quarter. Boston Partners now owns 3,961,838 shares of the company’s stock valued at $179,261,000 after purchasing an additional 1,911,771 shares in the last quarter. Viking Global Investors LP bought a new position in shares of Maplebear during the 2nd quarter valued at about $169,782,000. Altimeter Capital Management LP grew its position in shares of Maplebear by 31.9% in the 1st quarter. Altimeter Capital Management LP now owns 3,348,128 shares of the company’s stock valued at $133,557,000 after purchasing an additional 810,510 shares during the period. Finally, William Blair Investment Management LLC bought a new stake in Maplebear during the 2nd quarter worth approximately $151,364,000. Institutional investors own 63.09% of the company’s stock.

Maplebear Trading Up 0.4%

Shares of NASDAQ:CART opened at $45.85 on Wednesday. Maplebear has a 1-year low of $34.78 and a 1-year high of $53.50. The stock has a market capitalization of $12.04 billion, a P/E ratio of 25.19, a P/E/G ratio of 1.49 and a beta of 1.01. The business has a 50-day moving average price of $41.33 and a two-hundred day moving average price of $43.53.

Maplebear (NASDAQ:CART) last issued its earnings results on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $939.00 million for the quarter, compared to analyst estimates of $933.76 million. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. As a group, equities analysts predict that Maplebear will post 1.43 EPS for the current year.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.