Maplebear (NASDAQ:CART) Price Target Raised to $45.00 at Morgan Stanley

Maplebear (NASDAQ:CART) had its price target hoisted by Morgan Stanley from $44.00 to $45.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 2.48% from the stock’s current price.

A number of other brokerages have also weighed in on CART. JPMorgan Chase & Co. increased their target price on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Seaport Res Ptn upgraded shares of Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. Wedbush cut their price objective on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday. BTIG Research upgraded shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Tuesday, January 14th. Finally, Piper Sandler raised their price objective on shares of Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Maplebear Price Performance

NASDAQ:CART traded down $4.87 on Wednesday, reaching $43.91. 4,628,266 shares of the company’s stock were exchanged, compared to its average volume of 4,238,984. The firm has a market cap of $11.28 billion, a price-to-earnings ratio of 29.47, a P/E/G ratio of 1.19 and a beta of 1.07. Maplebear has a 52 week low of $29.84 and a 52 week high of $53.44. The stock has a fifty day simple moving average of $46.46 and a 200-day simple moving average of $42.68.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The firm had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. As a group, sell-side analysts predict that Maplebear will post 1.43 EPS for the current year.

Insiders Place Their Bets

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Alan Ramsay sold 2,314 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the transaction, the chief accounting officer now owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,311 shares of company stock valued at $1,088,636. 36.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CART. Victory Capital Management Inc. grew its holdings in shares of Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock worth $187,495,000 after purchasing an additional 4,487,654 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of Maplebear in the third quarter worth approximately $158,701,000. Boston Partners bought a new position in shares of Maplebear in the fourth quarter worth approximately $111,506,000. Altimeter Capital Management LP bought a new position in shares of Maplebear in the fourth quarter worth approximately $105,108,000. Finally, Vanguard Group Inc. grew its holdings in shares of Maplebear by 16.8% in the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock worth $661,409,000 after purchasing an additional 2,300,288 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Maplebear Company Profile

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.