Maplebear (NASDAQ:CART) Earns Outperform Rating from Analysts at Mizuho

Mizuho began coverage on shares of Maplebear (NASDAQ:CART) in a report published on Tuesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $55.00 price target on the stock.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group began coverage on shares of Maplebear in a research note on Wednesday, October 16th. They set a “hold” rating and a $43.00 price objective for the company. JPMorgan Chase & Co. upped their price target on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft initiated coverage on Maplebear in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price objective on the stock. Morgan Stanley raised their price target on shares of Maplebear from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Macquarie boosted their price objective on shares of Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Maplebear currently has an average rating of “Moderate Buy” and an average price target of $48.31.

Maplebear Trading Up 3.3 %

NASDAQ CART opened at $46.58 on Tuesday. The business’s 50-day moving average price is $43.56 and its 200 day moving average price is $39.61. Maplebear has a twelve month low of $23.59 and a twelve month high of $50.01. The company has a market capitalization of $11.97 billion, a PE ratio of 31.26, a price-to-earnings-growth ratio of 1.00 and a beta of 1.04.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $852.00 million for the quarter, compared to analysts’ expectations of $844.03 million. During the same period last year, the company earned ($20.86) earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Equities analysts predict that Maplebear will post 1.4 EPS for the current year.

Insider Activity at Maplebear

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $44.39, for a total value of $921,092.50. Following the completion of the transaction, the chief executive officer now owns 1,803,278 shares of the company’s stock, valued at $80,047,510.42. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total transaction of $92,261.82. Following the sale, the chief accounting officer now owns 89,982 shares of the company’s stock, valued at approximately $3,694,660.92. The trade was a 2.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,128 shares of company stock valued at $4,980,404 over the last three months. 36.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CART. Portman Ltd bought a new position in Maplebear in the third quarter worth about $3,196,000. State Street Corp raised its position in shares of Maplebear by 48.3% during the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company’s stock worth $103,994,000 after purchasing an additional 831,795 shares during the period. Cerity Partners LLC bought a new stake in shares of Maplebear in the 3rd quarter worth approximately $1,442,000. Charles Schwab Investment Management Inc. boosted its position in Maplebear by 5,191.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after purchasing an additional 1,461,501 shares during the period. Finally, Zacks Investment Management bought a new position in Maplebear during the 3rd quarter worth $4,853,000. 63.09% of the stock is owned by institutional investors and hedge funds.

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.