Maplebear (NASDAQ:CART) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Maplebear (NASDAQ:CART) from a hold rating to a buy rating in a research report released on Saturday morning.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their target price on shares of Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Raymond James Financial upgraded Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Citizens Jmp reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of Maplebear in a research note on Monday, June 15th. Wedbush started coverage on Maplebear in a report on Thursday. They issued an “outperform” rating and a $59.00 price objective for the company. Finally, Weiss Ratings raised Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and an average price target of $51.86.

Maplebear Trading Down 0.9%

Maplebear stock opened at $45.82 on Friday. The company has a market cap of $10.77 billion, a PE ratio of 25.60, a PEG ratio of 0.63 and a beta of 0.75. Maplebear has a 1 year low of $32.73 and a 1 year high of $53.50. The company’s 50-day moving average is $43.50 and its two-hundred day moving average is $40.65.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm earned $0.37 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. Research analysts forecast that Maplebear will post 2.46 EPS for the current year.

Insiders Place Their Bets

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the transaction, the director directly owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 24.00% of the company’s stock.

Institutional Trading of Maplebear

Hedge funds have recently bought and sold shares of the stock. US Bancorp DE increased its position in Maplebear by 17.0% during the 4th quarter. US Bancorp DE now owns 437,658 shares of the company’s stock worth $19,686,000 after purchasing an additional 63,666 shares in the last quarter. Ruffer LLP acquired a new position in shares of Maplebear during the fourth quarter worth $2,567,000. CWM LLC boosted its holdings in shares of Maplebear by 1,741.4% during the 4th quarter. CWM LLC now owns 30,088 shares of the company’s stock valued at $1,353,000 after acquiring an additional 28,454 shares in the last quarter. SG Americas Securities LLC grew its position in Maplebear by 1,076.1% during the 4th quarter. SG Americas Securities LLC now owns 273,379 shares of the company’s stock worth $12,297,000 after acquiring an additional 250,135 shares during the last quarter. Finally, Horizon Investments LLC increased its holdings in Maplebear by 263,556.8% in the 4th quarter. Horizon Investments LLC now owns 116,009 shares of the company’s stock worth $5,218,000 after purchasing an additional 115,965 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

About Maplebear

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.