Mizuho Has Lowered Expectations for Maplebear (NASDAQ:CART) Stock Price

Maplebear (NASDAQ:CART) had its target price cut by Mizuho from $55.00 to $52.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also issued reports on CART. Wells Fargo & Company initiated coverage on shares of Maplebear in a research report on Friday, January 10th. They set an “equal weight” rating and a $47.00 price target on the stock. Seaport Res Ptn raised shares of Maplebear to a “strong-buy” rating in a report on Wednesday, February 12th. Morgan Stanley raised their target price on shares of Maplebear from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $56.00 price target on shares of Maplebear in a research report on Wednesday. Finally, BMO Capital Markets upped their price objective on Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Wednesday. Thirteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.80.

Maplebear Price Performance

Shares of NASDAQ CART opened at $42.80 on Wednesday. The business has a 50-day moving average of $46.48 and a 200-day moving average of $42.68. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 1.19 and a beta of 1.07. Maplebear has a fifty-two week low of $29.84 and a fifty-two week high of $53.44.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. On average, sell-side analysts expect that Maplebear will post 1.43 EPS for the current year.

Insider Activity

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the transaction, the chief executive officer now owns 1,771,993 shares in the company, valued at $75,734,980.82. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the sale, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,311 shares of company stock worth $1,088,636. Corporate insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Maplebear in the third quarter valued at approximately $33,000. Allworth Financial LP raised its position in 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 in the last quarter. NewEdge Advisors LLC lifted its stake in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after purchasing an additional 717 shares during the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Maplebear in the 4th quarter valued at $46,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

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.