Maplebear (NASDAQ:CART) Stock Rating Upgraded by Wall Street Zen

Maplebear (NASDAQ:CART) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other analysts have also recently issued reports on CART. Cantor Fitzgerald increased their target price on Maplebear from $45.00 to $54.00 and gave the stock an “overweight” rating in a research note on Thursday. Needham & Company LLC dropped their price objective on shares of Maplebear from $66.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Benchmark cut their price objective on shares of Maplebear from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Jefferies Financial Group increased their target price on Maplebear from $41.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, December 11th. Finally, Argus assumed coverage on Maplebear in a research note on Wednesday, January 7th. They issued a “buy” rating and a $52.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.16.

Maplebear Trading Down 4.3%

Shares of Maplebear stock opened at $41.17 on Friday. The stock’s fifty day simple moving average is $42.50 and its 200 day simple moving average is $43.55. The company has a market capitalization of $10.81 billion, a PE ratio of 22.62, a PEG ratio of 1.05 and a beta of 0.97. Maplebear has a 12 month low of $34.78 and a 12 month high of $53.50.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $939.00 million during the quarter, compared to the consensus estimate of $933.76 million. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 earnings per share. Analysts predict that Maplebear will post 1.43 EPS for the current fiscal year.

Insider Activity

In other news, Director Fidji Simo sold 3,051 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $39.60, for a total value of $120,819.60. Following the completion of the transaction, the director directly owned 570,756 shares in the company, valued at approximately $22,601,937.60. The trade was a 0.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Morgan Fong sold 4,914 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $45.21, for a total value of $222,161.94. Following 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 SEC filing for this sale provides additional information. Over the last three months, insiders sold 12,525 shares of company stock worth $521,304. Insiders own 26.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Maplebear by 51.2% in the first quarter. Royal Bank of Canada now owns 131,789 shares of the company’s stock worth $5,256,000 after acquiring an additional 44,642 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Maplebear by 71.6% during the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock worth $67,000 after purchasing an additional 698 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Maplebear by 358.5% in the 1st quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company’s stock worth $128,000 after purchasing an additional 2,502 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Maplebear by 17.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company’s stock valued at $15,585,000 after purchasing an additional 57,879 shares during the period. Finally, Empowered Funds LLC acquired a new position in Maplebear during the first quarter worth $268,000. Institutional investors own 63.09% of the company’s stock.

Maplebear Company Profile

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.