Maplebear (NASDAQ:CART) PT Raised to $49.00

Maplebear (NASDAQ:CARTFree Report) had its target price upped by Loop Capital from $46.00 to $49.00 in a report released on Thursday morning, Benzinga reports. Loop Capital currently has a buy rating on the stock.

CART has been the topic of several other reports. Fox Advisors downgraded Maplebear from an overweight rating to an equal weight rating in a research report on Monday, April 1st. Piper Sandler restated an overweight rating and issued a $47.00 price target (up from $45.00) on shares of Maplebear in a research note on Thursday, May 9th. Robert W. Baird lifted their price objective on shares of Maplebear from $31.00 to $44.00 and gave the company an outperform rating in a research report on Monday, April 1st. Barclays upped their target price on shares of Maplebear from $41.00 to $43.00 and gave the stock an overweight rating in a research report on Thursday, May 9th. Finally, Morgan Stanley lifted their price target on shares of Maplebear from $28.00 to $40.00 and gave the company an equal weight rating in a report on Monday, May 6th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $41.05.

Get Our Latest Stock Analysis on Maplebear

Maplebear Price Performance

Maplebear stock opened at $34.44 on Thursday. Maplebear has a 12-month low of $22.13 and a 12-month high of $42.95. The firm has a 50 day moving average of $36.29 and a 200 day moving average of $29.63.

Maplebear (NASDAQ:CARTGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.39. The firm had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $794.08 million. Maplebear’s revenue was up 8.0% compared to the same quarter last year. Sell-side analysts predict that Maplebear will post 1.02 earnings per share for the current year.

Insider Activity

In other news, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average cost of $27.90 per share, with a total value of $28,923,455.70. Following the purchase, the insider now owns 1,036,683 shares in the company, valued at $28,923,455.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Nick Giovanni sold 900 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $35.00, for a total transaction of $31,500.00. Following the completion of the sale, the chief financial officer now directly owns 591,077 shares of the company’s stock, valued at approximately $20,687,695. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average cost of $27.90 per share, for a total transaction of $28,923,455.70. Following the transaction, the insider now directly owns 1,036,683 shares in the company, valued at $28,923,455.70. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 2,157,745 shares of company stock valued at $61,771,955 and have sold 295,420 shares valued at $10,642,207. Insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

A number of large investors have recently made changes to their positions in the stock. FMR LLC bought a new stake in Maplebear during the 3rd quarter valued at about $56,424,000. Blackstone Inc. purchased a new stake in shares of Maplebear in the third quarter valued at approximately $17,369,000. KPCB DGF II Associates LLC bought a new position in Maplebear in the third quarter worth approximately $119,544,000. Monashee Investment Management LLC purchased a new position in Maplebear during the 3rd quarter worth $6,069,000. Finally, Federated Hermes Inc. raised its position in Maplebear by 190.2% during the 4th quarter. Federated Hermes Inc. now owns 464,355 shares of the company’s stock valued at $10,898,000 after purchasing an additional 304,355 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Maplebear (NASDAQ:CART)

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