Maplebear (NASDAQ:CART) PT Raised to $42.00

Maplebear (NASDAQ:CART) had its price target hoisted by research analysts at JMP Securities from $35.00 to $42.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ target price indicates a potential upside of 16.38% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird raised their target price on shares of Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Wolfe Research raised their target price on shares of Maplebear from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. Barclays raised their price target on Maplebear from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday. Oppenheimer lifted their target price on Maplebear from $36.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Finally, Benchmark reissued a “hold” rating on shares of Maplebear in a research report on Tuesday. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.89.

Maplebear Price Performance

CART traded down $1.39 on Thursday, hitting $36.09. 7,584,203 shares of the company were exchanged, compared to its average volume of 4,136,903. The firm has a fifty day simple moving average of $36.17 and a two-hundred day simple moving average of $29.15. Maplebear has a 12 month low of $22.13 and a 12 month high of $42.95.

Maplebear (NASDAQ:CART) last released its earnings results on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.39. The firm had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $794.08 million. The business’s revenue was up 8.0% on a year-over-year basis. As a group, analysts predict that Maplebear will post 0.53 earnings per share for the current year.

Insider Activity

In other Maplebear news, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $27.90 per share, with a total value of $28,923,455.70. Following the acquisition, the insider now owns 1,036,683 shares of the company’s stock, valued at approximately $28,923,455.70. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other Maplebear news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the stock in a transaction dated Tuesday, February 20th. The shares were bought at an average price of $27.90 per share, with a total value of $28,923,455.70. Following the purchase, the insider now directly owns 1,036,683 shares of the company’s stock, valued at approximately $28,923,455.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Nick Giovanni sold 900 shares of Maplebear stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $35.00, for a total transaction of $31,500.00. Following the transaction, the chief financial officer now owns 591,077 shares in the company, valued at $20,687,695. The disclosure for this sale can be found here. In the last three months, 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. Corporate insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Several hedge funds and other institutional investors have recently made changes to their positions in CART. Renaissance Capital LLC lifted its stake in Maplebear by 4.3% during the first quarter. Renaissance Capital LLC now owns 14,692 shares of the company’s stock worth $548,000 after purchasing an additional 607 shares during the period. Parallel Advisors LLC boosted its holdings 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 acquiring an additional 620 shares during the last quarter. Signaturefd LLC acquired a new position in Maplebear in the third quarter valued at about $30,000. Cantor Fitzgerald L. P. lifted its stake in Maplebear by 389.5% in the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after buying an additional 2,489 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Maplebear during the fourth quarter worth about $69,000. 63.09% of the stock is owned by institutional investors and hedge funds.

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.