Maplebear Inc. (NASDAQ:CART) Receives Consensus Rating of “Moderate Buy” from Analysts

Maplebear Inc. (NASDAQ:CART) has earned an average rating of “Moderate Buy” from the thirty ratings firms that are presently covering the stock, MarketBeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $49.80.

A number of equities analysts have weighed in on CART shares. Loop Capital upped their price objective on shares of Maplebear from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company started coverage on shares of Maplebear in a research report on Friday, January 10th. They set an “equal weight” rating and a $47.00 price target for the company. Robert W. Baird lifted their price objective on Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft started coverage on Maplebear in a report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 target price for the company. Finally, Benchmark reiterated a “hold” rating on shares of Maplebear in a report on Wednesday.

Insiders Place Their Bets

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the sale, the chief accounting officer now directly owns 85,421 shares of the company’s stock, valued at $3,953,283.88. The trade was a 2.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the transaction, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,311 shares of company stock worth $1,088,636 in the last 90 days. Corporate insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

Several institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp grew its position in shares of Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after buying an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Maplebear in the third quarter valued at $33,000. Allworth Financial LP boosted its stake in Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after acquiring an additional 420 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after purchasing an additional 717 shares during the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Maplebear during the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Down 12.3 %

Shares of Maplebear stock opened at $42.80 on Thursday. The firm has a market cap of $11.00 billion, a PE ratio of 28.72, a P/E/G ratio of 1.19 and a beta of 1.07. Maplebear has a twelve month low of $29.84 and a twelve month high of $53.44. The business has a 50-day moving average price of $46.48 and a 200 day moving average price of $42.68.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $883.00 million during the quarter, compared to analysts’ expectations of $889.98 million. On average, sell-side analysts expect that Maplebear will post 1.43 EPS for the current year.

About Maplebear

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.