Cantor Fitzgerald Reaffirms “Overweight” Rating for Maplebear (NASDAQ:CART)

Cantor Fitzgerald restated their overweight rating on shares of Maplebear (NASDAQ:CART) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $55.00 target price on the stock. Cantor Fitzgerald also issued estimates for Maplebear’s FY2025 earnings at $1.52 EPS.

Several other brokerages have also recently issued reports on CART. Piper Sandler upped their price target on shares of Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Loop Capital raised their target price on Maplebear from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Mizuho began coverage on Maplebear in a research note on Tuesday, January 14th. They issued an “outperform” rating and a $55.00 price target for the company. Barclays raised their price objective on Maplebear from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.92.

Maplebear Stock Up 0.9 %

NASDAQ CART opened at $41.09 on Wednesday. Maplebear has a twelve month low of $29.84 and a twelve month high of $53.44. The company has a market cap of $10.56 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07. The business’s fifty day moving average is $46.43 and its 200 day moving average is $42.72.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.16. The company had revenue of $883.00 million for the quarter, compared to analysts’ expectations of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. On average, research analysts anticipate that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Alan Ramsay sold 2,247 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $42.14, for a total value of $94,688.58. Following the transaction, the chief accounting officer now owns 87,735 shares in the company, valued at $3,697,152.90. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the transaction, the chief executive officer now directly owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. The trade was a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,061 shares of company stock worth $1,987,318 over the last three months. 36.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Jones Financial Companies Lllp grew its position in Maplebear by 46.6% in the 4th 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 purchased a new position in shares of Maplebear in the 3rd quarter worth approximately $33,000. Allworth Financial LP grew its holdings in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after acquiring an additional 420 shares in the last quarter. NewEdge Advisors LLC increased its position 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 acquiring an additional 717 shares during the last quarter. Finally, Anderson Financial Strategies LLC bought a new stake in Maplebear during the fourth quarter worth $46,000. 63.09% of the stock is owned by institutional investors.

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.