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

Maplebear Inc. (NASDAQ:CART) has been given a consensus recommendation of “Moderate Buy” by the twenty-five ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $51.0909.

Several research analysts have recently weighed in on CART shares. Wall Street Zen downgraded Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Wells Fargo & Company increased their price target on Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price target on shares of Maplebear in a research note on Thursday, May 7th. Benchmark cut their price target on Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Finally, Jefferies Financial Group upgraded Maplebear from a “hold” rating to a “buy” rating and increased their price target for the stock from $38.00 to $45.00 in a research note on Monday, March 30th.

Maplebear Price Performance

Shares of Maplebear stock opened at $39.80 on Friday. Maplebear has a 1 year low of $32.73 and a 1 year high of $53.50. The firm has a market cap of $9.35 billion, a PE ratio of 22.23, a P/E/G ratio of 0.55 and a beta of 0.96. The stock has a fifty day moving average price of $40.08 and a 200-day moving average price of $40.17.

Maplebear (NASDAQ:CART) last announced its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the business earned $0.37 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, equities analysts anticipate that Maplebear will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In other news, General Counsel Morgan Fong sold 126,083 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the completion of the transaction, the general counsel owned 386,643 shares in the company, valued at approximately $14,340,588.87. This represents a 24.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of Maplebear stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total value of $377,947.50. Following the completion of the transaction, the chief accounting officer owned 58,971 shares of the company’s stock, valued at approximately $2,373,582.75. This trade represents a 13.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 144,863 shares of company stock valued at $5,418,135 in the last quarter. 24.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CART. Allworth Financial LP raised its holdings in shares of Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Maplebear by 9.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock valued at $134,000 after buying an additional 261 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in shares of Maplebear by 2.5% during the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock valued at $498,000 after buying an additional 273 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Maplebear by 5.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock valued at $236,000 after buying an additional 304 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of Maplebear by 78.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after buying an additional 389 shares in the last quarter. 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.