Stifel Nicolaus Boosts Maplebear (NASDAQ:CART) Price Target to $45.00

Maplebear (NASDAQ:CART) had its price target hoisted by equities researchers at Stifel Nicolaus from $44.00 to $45.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 25.70% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Wolfe Research raised their price objective on shares of Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Morgan Stanley lifted their price objective on Maplebear from $28.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday. Needham & Company LLC reissued a “hold” rating on shares of Maplebear in a report on Tuesday. Loop Capital assumed coverage on Maplebear in a research report on Friday, April 19th. They issued a “buy” rating and a $46.00 price objective for the company. Finally, Fox Advisors cut Maplebear from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 1st. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.37.

Maplebear Trading Down 4.5 %

Shares of CART stock traded down $1.68 on Thursday, reaching $35.80. 1,889,655 shares of the stock were exchanged, compared to its average volume of 4,067,345. Maplebear has a one year low of $22.13 and a one year high of $42.95. The stock has a 50 day moving average price of $36.05 and a 200 day moving average price of $29.09.

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

Insider Transactions at Maplebear

In other news, CEO Fidji Simo sold 3,236 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $35.09, for a total value of $113,551.24. Following the completion of the transaction, the chief executive officer now directly owns 2,125,301 shares of the company’s stock, valued at approximately $74,576,812.09. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Jeffrey D. Jordan sold 760,479 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $26.01, for a total transaction of $19,780,058.79. Following the transaction, the director now directly owns 20,783 shares of the company’s stock, valued at approximately $540,565.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Fidji Simo sold 3,236 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $35.09, for a total value of $113,551.24. Following the transaction, the chief executive officer now directly owns 2,125,301 shares in the company, valued at $74,576,812.09. The disclosure for this sale can be found here. In the last three months, insiders purchased 2,157,745 shares of company stock valued at $61,771,955 and sold 1,055,899 shares valued at $30,422,265. Corporate insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. FMR LLC purchased a new position in Maplebear during the 3rd quarter worth approximately $56,424,000. Blackstone Inc. purchased a new stake in Maplebear in the third quarter valued at $17,369,000. KPCB DGF II Associates LLC acquired a new stake in Maplebear during the 3rd quarter worth about $119,544,000. Monashee Investment Management LLC purchased a new position in shares of Maplebear during the 3rd quarter valued at about $6,069,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Maplebear by 190.2% in the 4th quarter. Federated Hermes Inc. now owns 464,355 shares of the company’s stock valued at $10,898,000 after buying an additional 304,355 shares during the period. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

About Maplebear

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.