Morgan Stanley Boosts Maplebear (NASDAQ:CART) Price Target to $40.00

Maplebear (NASDAQ:CART) had its target price lifted by Morgan Stanley from $28.00 to $40.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities analysts also recently weighed in on CART. Robert W. Baird raised their target price on shares of Maplebear from $31.00 to $44.00 and gave the company an outperform rating in a research note on Monday, April 1st. BMO Capital Markets began coverage on Maplebear in a research report on Tuesday, January 9th. They set a market perform rating and a $26.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on Maplebear from $35.00 to $45.00 and gave the stock an overweight rating in a report on Monday, March 25th. Loop Capital began coverage on Maplebear in a report on Friday, April 19th. They set a buy rating and a $46.00 price target for the company. Finally, Needham & Company LLC reiterated a hold rating on shares of Maplebear in a research note on Tuesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $39.42.

Maplebear Stock Down 0.1 %

Shares of CART stock opened at $37.48 on Monday. The business’s fifty day moving average is $36.05 and its 200 day moving average is $29.09. Maplebear has a twelve month low of $22.13 and a twelve month high of $42.95.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.52. The business had revenue of $803.00 million during the quarter, compared to analysts’ expectations of $804.62 million. The firm’s revenue was up 6.1% on a year-over-year basis. Analysts forecast that Maplebear will post 0.53 EPS for the current fiscal year.

Insider Transactions at Maplebear

In related news, CEO Fidji Simo sold 3,236 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $35.09, for a total transaction of $113,551.24. Following the completion of the sale, the chief executive officer now owns 2,125,301 shares in the company, valued at $74,576,812.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Maplebear news, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were acquired at an average cost of $27.90 per share, for a total transaction of $28,923,455.70. Following the completion of the transaction, the insider now owns 1,036,683 shares of the company’s stock, valued at $28,923,455.70. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Fidji Simo sold 3,236 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $35.09, for a total transaction of $113,551.24. Following the sale, the chief executive officer now directly owns 2,125,301 shares of the company’s stock, valued at approximately $74,576,812.09. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 2,157,745 shares of company stock worth $61,771,955 and have sold 1,055,899 shares worth $30,422,265. Company insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

A number of institutional investors have recently bought and sold shares of the stock. Signaturefd LLC bought a new stake in Maplebear during the third quarter valued at about $30,000. Parallel Advisors LLC grew its stake in shares of Maplebear by 139.3% during the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after acquiring an additional 620 shares during the period. Cantor Fitzgerald L. P. increased its holdings in Maplebear by 389.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after acquiring an additional 2,489 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Maplebear in the 4th quarter worth approximately $69,000. Finally, Amalgamated Bank bought a new stake in Maplebear during the 4th quarter worth approximately $94,000. 63.09% of the stock is owned by institutional investors.

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.