Brokerages Set Maplebear Inc. (NASDAQ:CART) Target Price at $52.21

Maplebear Inc. (NASDAQ:CART) has been given an average rating of “Moderate Buy” by the twenty-seven analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $52.2083.

A number of analysts have weighed in on the company. Jefferies Financial Group upped their target price on Maplebear from $41.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, December 11th. Benchmark decreased their price objective on Maplebear from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Stifel Nicolaus dropped their price objective on Maplebear from $56.00 to $49.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Needham & Company LLC reduced their target price on shares of Maplebear from $66.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Finally, Piper Sandler cut shares of Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price target on the stock. in a report on Friday, October 3rd.

Insider Activity at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of Maplebear stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total value of $222,161.94. Following the transaction, the general counsel directly owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fidji Simo sold 1,014 shares of the stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $40.00, for a total value of $40,560.00. Following the sale, the director owned 569,742 shares of the company’s stock, valued at approximately $22,789,680. This represents a 0.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 12,525 shares of company stock valued at $521,304. 26.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Maplebear

Institutional investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its holdings in shares of Maplebear by 78.6% during the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after acquiring an additional 389 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after buying an additional 244 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Maplebear by 212.7% during the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after buying an additional 787 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in shares of Maplebear during the third quarter valued at $43,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Maplebear in the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Price Performance

Shares of Maplebear stock opened at $44.98 on Wednesday. Maplebear has a 1 year low of $34.78 and a 1 year high of $53.50. The firm’s 50-day moving average is $41.59 and its two-hundred day moving average is $43.54. The stock has a market cap of $11.81 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 1.48 and a beta of 1.01.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The business had revenue of $939.00 million during the quarter, compared to analyst estimates of $933.76 million. During the same quarter in the previous year, the business posted $0.42 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts expect that Maplebear will post 1.43 earnings per share for the current year.

Maplebear Company Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.