Maplebear Inc. (NASDAQ:CART) Receives Consensus Rating of “Moderate Buy” from Brokerages

Maplebear Inc. (NASDAQ:CART) has received a consensus rating of “Moderate Buy” from the twenty-nine brokerages that are covering the firm, MarketBeat.com reports. Thirteen analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $50.52.

Several analysts have recently commented on CART shares. Wedbush lowered their target price on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $56.00 target price on shares of Maplebear in a research report on Wednesday, February 26th. Seaport Res Ptn raised Maplebear to a “strong-buy” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft began coverage on Maplebear in a report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price target on the stock. Finally, Benchmark restated a “hold” rating on shares of Maplebear in a research note on Wednesday, February 26th.

Insider Transactions at Maplebear

In other news, CAO Alan Ramsay sold 2,314 shares of the 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 owns 85,421 shares of the company’s stock, valued at $3,953,283.88. This represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now directly owns 1,654,559 shares of the company’s stock, valued at $66,182,360. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,097 shares of company stock valued at $1,087,094. 36.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Maplebear

A number of large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Maplebear in the third quarter worth approximately $33,000. Allworth Financial LP grew its position in Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after acquiring an additional 420 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after acquiring an additional 717 shares during the last quarter. Finally, Anderson Financial Strategies LLC bought a new stake in shares of Maplebear in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $38.90 on Monday. The stock has a market cap of $10.29 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.19 and a beta of 1.34. Maplebear has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The firm’s 50-day simple moving average is $45.10 and its 200 day simple moving average is $43.34.

Maplebear (NASDAQ:CART) last posted its earnings results 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 company had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. On average, sell-side analysts predict that Maplebear will post 1.43 EPS for the current year.

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.