Maplebear Inc. (NASDAQ:CART) Receives $38.79 Consensus Price Target from Analysts

Shares of Maplebear Inc. (NASDAQ:CART) have been given an average recommendation of “Moderate Buy” by the twenty-three analysts that are currently covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $38.79.

CART has been the subject of several recent research reports. Morgan Stanley began coverage on shares of Maplebear in a research report on Tuesday, January 30th. They set an “equal weight” rating and a $28.00 target price for the company. BMO Capital Markets initiated coverage on shares of Maplebear in a research report on Tuesday, January 9th. They issued a “market perform” rating and a $26.00 price target on the stock. Sanford C. Bernstein upgraded shares of Maplebear from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $30.00 to $43.00 in a report on Thursday, March 14th. Macquarie started coverage on shares of Maplebear in a report on Monday, March 25th. They issued an “outperform” rating and a $42.00 target price on the stock. Finally, Moffett Nathanson restated a “neutral” rating and set a $37.00 target price (up from $36.00) on shares of Maplebear in a report on Thursday, April 11th.

Maplebear Price Performance

Shares of Maplebear stock opened at $36.70 on Friday. Maplebear has a fifty-two week low of $22.13 and a fifty-two week high of $42.95. The firm has a 50 day simple moving average of $35.82 and a 200 day simple moving average of $28.92.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.52. The firm had revenue of $803.00 million for the quarter, compared to the consensus estimate of $804.62 million. Maplebear’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts expect that Maplebear will post 0.53 EPS for the current year.

Insider Activity

In related news, CAO Alan Ramsay sold 12,113 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $34.33, for a total value of $415,839.29. Following the sale, the chief accounting officer now owns 114,205 shares in the company, valued at approximately $3,920,657.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Alan Ramsay sold 12,113 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $34.33, for a total value of $415,839.29. Following the completion of the sale, the chief accounting officer now directly owns 114,205 shares in the company, valued at approximately $3,920,657.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Fidji Simo sold 3,236 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $35.09, for a total value of $113,551.24. Following the transaction, the chief executive officer now owns 2,125,301 shares in the company, valued at approximately $74,576,812.09. The disclosure for this sale can be found here. In the last quarter, insiders bought 2,157,745 shares of company stock valued at $61,771,955 and sold 1,055,899 shares valued at $30,422,265. Insiders own 4.02% of the company’s stock.

Institutional Trading of Maplebear

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC acquired a new position in shares of Maplebear in the 3rd quarter valued at approximately $30,000. Parallel Advisors LLC boosted its holdings in shares of Maplebear by 139.3% in the 4th 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. Cantor Fitzgerald L. P. boosted its holdings in shares of Maplebear by 389.5% in the 4th 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 acquired a new position in shares of Maplebear during the 4th quarter worth $69,000. Finally, Amalgamated Bank bought a new stake in shares of Maplebear during the 4th quarter worth $94,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Company Profile

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.