Maplebear (NASDAQ:CART) Price Target Raised to $55.00 at Macquarie

Maplebear (NASDAQ:CART) had its target price raised by Macquarie from $52.00 to $55.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price target indicates a potential upside of 33.85% from the company’s previous close.

Several other analysts have also issued reports on the company. Stifel Nicolaus boosted their target price on Maplebear from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered their price objective on Maplebear from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday. Oppenheimer cut their target price on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday. Mizuho lowered their price target on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Robert W. Baird upped their price target on shares of Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.92.

Maplebear Stock Performance

NASDAQ CART opened at $41.09 on Thursday. The company has a market capitalization of $10.56 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07. Maplebear has a 52-week low of $29.84 and a 52-week high of $53.44. The company has a 50-day simple moving average of $46.43 and a 200 day simple moving average of $42.72.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.16. The company had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. As a group, analysts forecast that Maplebear will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In other news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the sale, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Alan Ramsay sold 2,247 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the transaction, the chief accounting officer now owns 87,735 shares of the company’s stock, valued at $3,697,152.90. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,061 shares of company stock worth $1,987,318 over the last three months. 36.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Maplebear

Large investors have recently modified their holdings of the company. Jones Financial Companies Lllp grew its position in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after acquiring an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Maplebear in the 3rd quarter valued at $33,000. Allworth Financial LP boosted its stake in shares of Maplebear by 101.4% in the 4th 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 grew its holdings in shares of Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after purchasing an additional 717 shares during the last quarter. Finally, Anderson Financial Strategies LLC purchased a new position in Maplebear in the 4th quarter worth $46,000. 63.09% of the stock is owned by hedge funds and other 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.