Maplebear (NASDAQ:CART) PT Raised to $40.00 at Morgan Stanley

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

Several other equities research analysts have also issued reports on CART. Oppenheimer lifted their price target on shares of Maplebear from $36.00 to $48.00 and gave the company an outperform rating in a research note on Monday, April 29th. Benchmark cut Maplebear from a buy rating to a hold rating in a research report on Tuesday, January 23rd. BMO Capital Markets assumed coverage on Maplebear in a research report on Tuesday, January 9th. They set a market perform rating and a $26.00 price target on the stock. Piper Sandler increased their price objective on Maplebear from $36.00 to $45.00 and gave the company an overweight rating in a report on Friday, March 15th. 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. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Maplebear currently has a consensus rating of Moderate Buy and a consensus price target of $39.42.

Maplebear Stock Down 0.5 %

CART stock opened at $36.53 on Monday. The business has a 50-day moving average of $35.93 and a 200-day moving average of $29.00. Maplebear has a fifty-two week low of $22.13 and a fifty-two week high of $42.95.

Maplebear (NASDAQ:CART) last released its quarterly 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 firm had revenue of $803.00 million for the quarter, compared to analyst estimates of $804.62 million. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that Maplebear will post 0.53 EPS for the current fiscal year.

Insider Activity

In other Maplebear news, CEO Fidji Simo sold 82,461 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $38.07, for a total value of $3,139,290.27. Following the transaction, the chief executive officer now directly owns 926,654 shares of the company’s stock, valued at approximately $35,277,717.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Maplebear news, CEO Fidji Simo sold 82,461 shares of Maplebear stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $38.07, for a total value of $3,139,290.27. Following the completion of the sale, the chief executive officer now owns 926,654 shares in the company, valued at approximately $35,277,717.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey D. Jordan sold 760,479 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $26.01, for a total transaction of $19,780,058.79. Following the transaction, the director now owns 20,783 shares in the company, valued at approximately $540,565.83. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 2,157,745 shares of company stock valued at $61,771,955 and have sold 1,055,899 shares valued at $30,422,265. 36.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Maplebear

A number of hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC bought a new stake in shares of Maplebear during the 3rd quarter valued at $30,000. Parallel Advisors LLC raised its stake in Maplebear by 139.3% in the fourth 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. lifted its position in Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after purchasing an additional 2,489 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Maplebear during the fourth quarter worth about $69,000. Finally, Amalgamated Bank bought a new position in Maplebear in the 4th quarter valued at about $94,000. Institutional investors 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.