Maplebear (NASDAQ:CART) Stock Price Expected to Rise, Macquarie Analyst Says

Maplebear (NASDAQ:CART) had its price objective raised by investment analysts at Macquarie from $52.00 to $55.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Macquarie’s target price suggests a potential upside of 33.85% from the company’s previous close.

Other analysts also recently issued reports about the company. Piper Sandler increased their price objective on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft began coverage on Maplebear in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price target for the company. Oppenheimer cut their price objective on Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday. Seaport Res Ptn raised shares of Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company began coverage on shares of Maplebear in a research report on Friday, January 10th. They issued an “equal weight” rating and a $47.00 price target on the stock. Thirteen investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.92.

Maplebear Trading Up 0.9 %

Shares of CART stock opened at $41.09 on Thursday. The business’s 50-day moving average price is $46.43 and its 200-day moving average price is $42.72. Maplebear has a 12 month low of $29.84 and a 12 month high of $53.44. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.19 and a beta of 1.07.

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

Insider Buying and Selling at Maplebear

In related news, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total value of $886,855.00. Following the sale, the chief executive officer now owns 1,771,993 shares in the company, valued at $75,734,980.82. This represents a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,061 shares of company stock valued at $1,987,318. Corporate insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Maplebear by 16.8% in the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock worth $661,409,000 after acquiring an additional 2,300,288 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Maplebear by 15.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,744,652 shares of the company’s stock worth $196,524,000 after purchasing an additional 635,930 shares during the last quarter. Victory Capital Management Inc. grew its position in Maplebear by 11,501.2% in the 4th 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 in the last quarter. Pacer Advisors Inc. purchased a new stake in Maplebear in the 3rd quarter valued at about $158,701,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Maplebear by 85.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company’s stock worth $127,650,000 after buying an additional 1,416,426 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

About Maplebear

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.