Maplebear (NASDAQ:CART) Sets New 12-Month High – What’s Next?

Maplebear Inc. (NASDAQ:CART)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $50.91 and last traded at $50.09, with a volume of 525058 shares trading hands. The stock had previously closed at $49.69.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CART shares. Needham & Company LLC raised Maplebear from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Monday, January 13th. Mizuho initiated coverage on shares of Maplebear in a report on Tuesday, January 14th. They issued an “outperform” rating and a $55.00 price target for the company. JMP Securities upped their price objective on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. Robert W. Baird lifted their target price on shares of Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, BMO Capital Markets boosted their target price on shares of Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and a consensus target price of $48.96.

Maplebear Stock Up 0.4 %

The company has a market capitalization of $12.82 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07. The firm has a 50-day moving average of $44.87 and a two-hundred day moving average of $41.40.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $844.03 million. During the same quarter last year, the company posted ($20.86) EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities research analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Buying and Selling

In other news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $42.97, for a total value of $891,627.50. Following the sale, the chief executive officer now directly owns 1,804,243 shares in the company, valued at approximately $77,528,321.71. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of Maplebear 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 completion of the transaction, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,555 shares of company stock valued at $2,164,787. Corporate insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

A number of hedge funds have recently bought and sold shares of CART. Jones Financial Companies Lllp increased 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 worth $29,000 after buying an additional 222 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Maplebear in the 3rd quarter valued at approximately $33,000. Allworth Financial LP increased its position 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. Huntington National Bank acquired a new stake in shares of Maplebear in the 3rd quarter valued at $54,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Maplebear during the 4th quarter worth $62,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

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.