Stifel Nicolaus Boosts Maplebear (NASDAQ:CART) Price Target to $45.00

Maplebear (NASDAQ:CART) had its price objective increased by stock analysts at Stifel Nicolaus from $44.00 to $45.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 25.70% from the company’s current price.

Several other brokerages have also recently commented on CART. Wolfe Research raised their target price on Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a report on Tuesday. Barclays raised their price objective on Maplebear from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $47.00 price objective (up from $45.00) on shares of Maplebear in a research report on Thursday. Finally, Loop Capital initiated coverage on Maplebear in a research note on Friday, April 19th. They issued a “buy” rating and a $46.00 target price on the stock. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $39.37.

Maplebear Trading Down 4.5 %

CART traded down $1.68 during trading on Thursday, reaching $35.80. The company had a trading volume of 1,889,655 shares, compared to its average volume of 4,067,345. Maplebear has a 12-month low of $22.13 and a 12-month high of $42.95. The firm’s 50-day simple moving average is $36.05 and its 200 day simple moving average is $29.09.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.04 by $0.39. The firm had revenue of $820.00 million during the quarter, compared to the consensus estimate of $794.08 million. Maplebear’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts expect that Maplebear will post 0.53 earnings per share for the current year.

Insider Buying and Selling

In other Maplebear news, CAO Alan Ramsay sold 12,178 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $34.90, for a total value of $425,012.20. Following the completion of the sale, the chief accounting officer now owns 118,142 shares in the company, valued at $4,123,155.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Alan Ramsay sold 12,178 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $34.90, for a total value of $425,012.20. Following the sale, the chief accounting officer now directly owns 118,142 shares of the company’s stock, valued at $4,123,155.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of Maplebear stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average cost of $27.90 per share, for a total transaction of $28,923,455.70. Following the completion of the purchase, the insider now owns 1,036,683 shares of the company’s stock, valued at $28,923,455.70. The disclosure for this purchase can be found here. In the last quarter, insiders bought 2,157,745 shares of company stock worth $61,771,955 and sold 1,055,899 shares worth $30,422,265. 36.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC lifted its holdings in shares of Maplebear by 139.3% during the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after purchasing an additional 620 shares in the last quarter. Signaturefd LLC bought a new position in shares of Maplebear during the third quarter valued at $30,000. Cantor Fitzgerald L. P. lifted its holdings in shares of Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after purchasing an additional 2,489 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Maplebear during the fourth quarter valued at $69,000. Finally, Amalgamated Bank bought a new position in shares of Maplebear during the fourth quarter valued at $94,000. 63.09% of the stock is owned by institutional investors.

About Maplebear

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.