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

Maplebear Inc. (NASDAQ:CART) has received a consensus recommendation of “Moderate Buy” from the twenty-eight research firms that are presently covering the stock, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $50.61.

A number of research firms have recently commented on CART. Seaport Res Ptn raised shares of Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. BMO Capital Markets upped their price objective on shares of Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Stifel Nicolaus lifted their target price on Maplebear from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. FBN Securities assumed coverage on Maplebear in a research note on Friday, March 28th. They issued a “sector perform” rating and a $44.00 price target on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $55.00 price objective on shares of Maplebear in a research note on Friday, April 11th.

Maplebear Price Performance

NASDAQ:CART opened at $42.35 on Friday. The business’s 50-day moving average is $41.66 and its two-hundred day moving average is $43.56. The firm has a market capitalization of $11.12 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20. Maplebear has a 12 month low of $29.84 and a 12 month high of $53.44.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate 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 return on equity of 13.78% and a net margin of 13.37%. Equities analysts anticipate that Maplebear will post 1.43 EPS for the current year.

Insider Buying and Selling

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the transaction, the chief executive officer now directly owns 1,654,559 shares of the company’s stock, valued at $66,182,360. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 30,916 shares of company stock valued at $1,318,335. Insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

A number of hedge funds have recently made changes to their positions in CART. Proathlete Wealth Management LLC bought a new position in Maplebear in the 1st quarter worth approximately $26,000. Jones Financial Companies Lllp grew its stake in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Maplebear in the third quarter worth $33,000. Allworth Financial LP increased its holdings in shares of Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after purchasing an additional 717 shares in 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.