Maplebear (NASDAQ:CART) Price Target Lowered to $60.00 at Oppenheimer

Maplebear (NASDAQ:CARTGet Free Report) had its price objective reduced by equities researchers at Oppenheimer from $65.00 to $60.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 37.01% from the company’s current price.

Several other analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Maplebear in a report on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $56.00 price target on shares of Maplebear in a research report on Wednesday. Wells Fargo & Company initiated coverage on shares of Maplebear in a report on Friday, January 10th. They set an “equal weight” rating and a $47.00 price objective on the stock. Seaport Res Ptn upgraded Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, Mizuho began coverage on Maplebear in a research note on Tuesday, January 14th. They set an “outperform” rating and a $55.00 price target on the stock. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and an average target price of $49.88.

Get Our Latest Stock Analysis on Maplebear

Maplebear Price Performance

NASDAQ CART traded down $4.99 during midday trading on Wednesday, hitting $43.79. 5,541,054 shares of the company traded hands, compared to its average volume of 4,269,553. Maplebear has a 52 week low of $29.84 and a 52 week high of $53.44. The company’s 50-day simple moving average is $46.46 and its 200-day simple moving average is $42.68. The company has a market cap of $11.25 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07.

Maplebear (NASDAQ:CARTGet Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. On average, research analysts predict that Maplebear will post 1.43 earnings per share for the current year.

Insider Activity

In other news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the sale, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58. Following the transaction, the chief accounting officer now directly owns 87,735 shares of the company’s stock, valued at $3,697,152.90. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,311 shares of company stock worth $1,088,636 in the last three months. 36.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after acquiring an additional 222 shares during the period. CIBC Asset Management Inc increased its stake in Maplebear by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock valued at $331,000 after buying an additional 286 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after buying an additional 420 shares during the last quarter. WCG Wealth Advisors LLC increased its position in Maplebear by 3.3% during the fourth quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company’s stock worth $590,000 after buying an additional 451 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in Maplebear by 1.6% during the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after purchasing an additional 490 shares during the period. Institutional investors own 63.09% of the company’s stock.

About Maplebear

(Get Free Report)

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.

See Also

Analyst Recommendations for Maplebear (NASDAQ:CART)

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