FBN Securities Begins Coverage on Maplebear (NASDAQ:CART)

FBN Securities assumed coverage on shares of Maplebear (NASDAQ:CART) in a research report sent to investors on Friday morning, MarketBeat.com reports. The brokerage issued a sector perform rating and a $44.00 price objective on the stock.

Several other equities research analysts have also weighed in on the company. BTIG Research raised Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price target on Maplebear from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Oppenheimer reduced their price objective on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Loop Capital decreased their target price on shares of Maplebear from $56.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Wedbush cut their price target on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Fourteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $50.25.

Maplebear Trading Down 1.9 %

Shares of Maplebear stock opened at $39.73 on Friday. Maplebear has a 52 week low of $29.84 and a 52 week high of $53.44. The stock has a market cap of $10.51 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. The company’s 50-day moving average price is $44.59 and its two-hundred day moving average price is $43.42.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The business had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. On average, equities analysts predict that Maplebear will post 1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction on Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the sale, the chief executive officer now owns 1,654,559 shares of the company’s stock, valued at approximately $66,182,360. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the sale, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,097 shares of company stock valued at $1,087,094 over the last ninety days. Corporate insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

Institutional investors have recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Maplebear by 48.3% during the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company’s stock worth $103,994,000 after buying an additional 831,795 shares during the period. Cerity Partners LLC bought a new stake in Maplebear during the third quarter valued at about $1,442,000. Charles Schwab Investment Management Inc. grew its position in shares of Maplebear by 5,191.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after purchasing an additional 1,461,501 shares during the last quarter. Zacks Investment Management bought a new position in shares of Maplebear in the third quarter worth about $4,853,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Maplebear by 95.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,258 shares of the company’s stock worth $1,233,000 after purchasing an additional 14,750 shares during the last quarter. Institutional investors 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.