Maplebear’s (CART) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Maplebear (NASDAQ:CART) in a report published on Wednesday morning,Benzinga reports. They currently have a $55.00 target price on the stock.

A number of other research firms also recently issued reports on CART. Needham & Company LLC reiterated a “buy” rating and set a $56.00 price target on shares of Maplebear in a research report on Wednesday. Wells Fargo & Company assumed coverage on Maplebear in a report on Friday, January 10th. They set an “equal weight” rating and a $47.00 price objective for the company. Loop Capital upped their target price on Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a report on Monday, December 9th. Seaport Res Ptn raised Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, Mizuho assumed coverage on shares of Maplebear in a research note on Tuesday, January 14th. They issued an “outperform” rating and a $55.00 price objective on the stock. Thirteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.80.

Maplebear Stock Performance

NASDAQ:CART opened at $42.80 on Wednesday. Maplebear has a 1 year low of $29.84 and a 1 year high of $53.44. The stock has a fifty day moving average price of $46.48 and a two-hundred day moving average price of $42.68. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 1.19 and a beta of 1.07.

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

Insider Activity

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares in the company, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the sale, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at $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 a total of 25,311 shares of company stock valued at $1,088,636 in the last 90 days. 36.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maplebear

A number of institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in shares of Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Maplebear during the 3rd quarter worth approximately $33,000. Allworth Financial LP raised its holdings 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 buying an additional 420 shares during the period. NewEdge Advisors LLC raised its holdings in Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after buying an additional 717 shares during the period. Finally, Anderson Financial Strategies LLC purchased a new stake in Maplebear during the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

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.