Maplebear’s (CART) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Maplebear (NASDAQ:CART) in a research note released on Wednesday,Benzinga reports. The brokerage currently has a $55.00 price target on the stock. Cantor Fitzgerald also issued estimates for Maplebear’s FY2025 earnings at $1.52 EPS.

CART has been the topic of a number of other research reports. Barclays raised their price target on Maplebear from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets lifted their price target on shares of Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Piper Sandler increased their price objective on shares of Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. BTIG Research upgraded shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Tuesday, January 14th. Finally, Loop Capital upped their target price on shares of Maplebear from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Thirteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and an average price target of $49.92.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $41.09 on Wednesday. The company has a 50 day moving average price of $46.43 and a two-hundred day moving average price of $42.72. The company has a market capitalization of $10.56 billion, a PE ratio of 27.58, a PEG 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.

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

Insider Activity

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction on 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 directly owns 85,421 shares in the company, valued at $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the transaction, the chief executive officer now directly owns 1,771,993 shares in the company, valued at approximately $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,061 shares of company stock valued at $1,987,318 over the last three months. Insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CART. Jones Financial Companies Lllp increased its position in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Maplebear in the 3rd quarter valued at $33,000. Allworth Financial LP increased its stake 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 purchasing an additional 420 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after buying an additional 717 shares in the last quarter. Finally, Anderson Financial Strategies LLC bought a new stake in shares of Maplebear during the 4th quarter worth $46,000. Institutional investors and hedge funds 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.