Investment Analysts’ Weekly Ratings Updates for Maplebear (CART)

A number of firms have modified their ratings and price targets on shares of Maplebear (NASDAQ: CART) recently:

• 5/16/2024 – Maplebear had its price target raised by analysts at Loop Capital from $46.00 to $49.00. They now have a “buy” rating on the stock.
• 5/9/2024 – Maplebear had its price target raised by analysts at Barclays PLC from $41.00 to $43.00. They now have an “overweight” rating on the stock.
• 5/9/2024 – Maplebear had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $47.00 price target on the stock, up previously from $45.00.
• 5/9/2024 – Maplebear had its price target raised by analysts at BMO Capital Markets from $26.00 to $36.00. They now have a “market perform” rating on the stock.
• 5/9/2024 – Maplebear had its price target raised by analysts at JMP Securities from $35.00 to $42.00. They now have a “market outperform” rating on the stock.
• 5/9/2024 – Maplebear had its price target raised by analysts at Citigroup Inc. from $42.00 to $44.00. They now have a “buy” rating on the stock.
• 5/9/2024 – Maplebear had its price target raised by analysts at Stifel Nicolaus from $44.00 to $45.00. They now have a “buy” rating on the stock.
• 5/7/2024 – Maplebear had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 5/7/2024 – Maplebear had its “hold” rating reaffirmed by analysts at Benchmark Co..
• 5/6/2024 – Maplebear had its price target raised by analysts at Morgan Stanley from $28.00 to $40.00. They now have an “equal weight” rating on the stock.
• 4/29/2024 – Maplebear had its price target raised by analysts at Oppenheimer Holdings Inc. from $36.00 to $48.00. They now have an “outperform” rating on the stock.
• 4/23/2024 – Maplebear had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 4/19/2024 – Maplebear is now covered by analysts at Loop Capital. They set a “buy” rating and a $46.00 price target on the stock.
• 4/11/2024 – Maplebear had its “neutral” rating reaffirmed by analysts at Moffett Nathanson. They now have a $37.00 price target on the stock, up previously from $36.00.
• 4/1/2024 – Maplebear had its price target raised by analysts at Robert W. Baird from $31.00 to $44.00. They now have an “outperform” rating on the stock.
• 4/1/2024 – Maplebear was downgraded by analysts at Fox Advisors from an “overweight” rating to an “equal weight” rating.
• 3/25/2024 – Maplebear had its price target raised by analysts at JPMorgan Chase & Co. from $35.00 to $45.00. They now have an “overweight” rating on the stock.
• 3/25/2024 – Maplebear is now covered by analysts at Macquarie. They set an “outperform” rating and a $42.00 price target on the stock.

Maplebear Stock Performance

Maplebear stock traded down $0.23 during mid-day trading on Friday, reaching $32.37. 3,510,289 shares of the company’s stock were exchanged, compared to its average volume of 4,223,566. The business’s fifty day simple moving average is $36.09 and its 200 day simple moving average is $29.76. Maplebear Inc. has a one year low of $22.13 and a one year high of $42.95.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.39. The company had revenue of $820.00 million for the quarter, compared to the consensus estimate of $794.08 million. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that Maplebear Inc. will post 1.02 EPS for the current year.

Insider Activity

In other news, CEO Fidji Simo sold 82,461 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $38.07, for a total value of $3,139,290.27. Following the completion of the transaction, the chief executive officer now directly owns 926,654 shares of the company’s stock, valued at $35,277,717.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Fidji Simo sold 82,461 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $38.07, for a total transaction of $3,139,290.27. Following the sale, the chief executive officer now owns 926,654 shares of the company’s stock, valued at approximately $35,277,717.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 98,200 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $34.32, for a total transaction of $3,370,224.00. Following the transaction, the general counsel now owns 283,068 shares of the company’s stock, valued at $9,714,893.76. The disclosure for this sale can be found here. Insiders sold 307,198 shares of company stock valued at $11,033,262 in the last three months. Company insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

Several hedge funds and other institutional investors have recently bought and sold shares of CART. Signaturefd LLC bought a new stake in shares of Maplebear in the 3rd quarter worth approximately $30,000. Parallel Advisors LLC increased its holdings in shares of Maplebear by 139.3% in the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after buying an additional 620 shares during the period. Cantor Fitzgerald L. P. lifted its stake in shares of Maplebear by 389.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after acquiring an additional 2,489 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Maplebear in the fourth quarter worth $69,000. Finally, Amalgamated Bank bought a new position in shares of Maplebear during the fourth quarter valued at about $94,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

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.