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

Maplebear Inc. (NASDAQ:CART) has earned an average rating of “Moderate Buy” from the twenty-four analysts that are covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $56.1429.

A number of equities research analysts have commented on the company. Barclays increased their target price on Maplebear from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Benchmark raised their target price on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. BNP Paribas Exane raised Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price objective for the company in a research report on Friday, August 7th. Citigroup upped their target price on Maplebear from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Guggenheim increased their target price on Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th.

Maplebear Price Performance

NASDAQ:CART opened at $51.07 on Monday. Maplebear has a 52-week low of $32.73 and a 52-week high of $52.68. The stock has a fifty day simple moving average of $47.82 and a 200-day simple moving average of $42.82. The company has a market capitalization of $11.82 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 1.00 and a beta of 0.80.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Maplebear had a net margin of 11.97% and a return on equity of 20.19%. Maplebear’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share. As a group, equities analysts anticipate that Maplebear will post 2.33 earnings per share for the current year.

Insider Activity

In other news, insider Morgan Fong sold 18,390 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $49.96, for a total transaction of $918,764.40. Following the completion of the sale, the insider directly owned 529,911 shares of the company’s stock, valued at $26,474,353.56. The trade was a 3.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 150,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total value of $7,591,500.00. Following the sale, the director directly owned 591,523 shares of the company’s stock, valued at approximately $29,936,979.03. This trade represents a 20.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 24.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Institutional investors have recently bought and sold shares of the business. Pinnacle Bancorp Inc. purchased a new position in shares of Maplebear in the 1st quarter valued at $25,000. PenderFund Capital Management Ltd. purchased a new stake in shares of Maplebear during the 4th quarter valued at about $27,000. Allworth Financial LP raised its stake in shares of Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after purchasing an additional 244 shares during the period. IFP Advisors Inc boosted its stake in shares of Maplebear by 761.3% in the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after purchasing an additional 845 shares during the period. Finally, Sunbelt Securities Inc. grew its holdings in Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after purchasing an additional 787 shares in the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Maplebear Company Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.