Maplebear (NASDAQ:CART) Price Target Raised to $48.00

Maplebear (NASDAQ:CART) had its target price increased by equities research analysts at Jefferies Financial Group from $41.00 to $48.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 6.83% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. BTIG Research restated a “neutral” rating and set a $55.00 price objective on shares of Maplebear in a research report on Tuesday, September 30th. BMO Capital Markets raised shares of Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a report on Tuesday, November 11th. Piper Sandler lowered Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a report on Friday, October 3rd. Citigroup lowered their price target on shares of Maplebear from $65.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Finally, Wall Street Zen downgraded Maplebear from a “buy” rating to a “hold” rating in a research note on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.21.

Maplebear Stock Performance

CART stock traded up $1.44 during mid-day trading on Thursday, reaching $44.93. The company had a trading volume of 3,273,847 shares, compared to its average volume of 4,885,014. The firm has a fifty day simple moving average of $39.80 and a 200 day simple moving average of $43.60. The company has a market capitalization of $11.80 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01. Maplebear has a fifty-two week low of $34.78 and a fifty-two week high of $53.50.

Maplebear (NASDAQ:CART) last posted its earnings results on Monday, November 10th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The firm had revenue of $939.00 million for the quarter, compared to analyst estimates of $933.76 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. Maplebear’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts predict that Maplebear will post 1.43 earnings per share for the current year.

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Chris Rogers sold 9,259 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $42.37, for a total transaction of $392,303.83. Following the completion of the sale, the chief executive officer directly owned 739,880 shares in the company, valued at $31,348,715.60. This represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Fidji Simo sold 1,014 shares of the firm’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $40.00, for a total value of $40,560.00. Following the completion of the transaction, the director owned 569,742 shares in the company, valued at approximately $22,789,680. This trade represents a 0.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,556 shares of company stock worth $1,179,482 in the last 90 days. 26.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Maplebear

A number of large investors have recently modified their holdings of CART. Hantz Financial Services Inc. grew its position in shares of Maplebear by 78.6% during the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after buying an additional 389 shares in the last quarter. Allworth Financial LP raised its holdings in Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares in the last quarter. Brooklyn Investment Group bought a new position in Maplebear during the 1st quarter valued at $40,000. Abich Financial Wealth Management LLC acquired a new position in Maplebear during the 3rd quarter worth $43,000. Finally, Sunbelt Securities Inc. increased its position in shares of Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after purchasing an additional 787 shares during the last quarter. 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.