Maplebear (NASDAQ:CART) Price Target Raised to $65.00

Maplebear (NASDAQ:CART) had its price objective hoisted by Citizens Jmp from $60.00 to $65.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other research firms have also recently weighed in on CART. Benchmark raised their target price on shares of Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Rosenblatt Securities initiated coverage on shares of Maplebear in a report on Tuesday, September 1st. They set a “neutral” rating and a $55.00 target price on the stock. Weiss Ratings raised shares of Maplebear from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 15th. BNP Paribas Exane raised shares of Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price target on the stock in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Maplebear from $55.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $58.53.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $58.42 on Monday. The stock has a 50 day moving average price of $48.81 and a 200 day moving average price of $43.15. Maplebear has a 52 week low of $32.73 and a 52 week high of $62.00. The stock has a market capitalization of $13.52 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 1.10 and a beta of 0.87.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, research analysts forecast that Maplebear will post 2.33 EPS for the current year.

Insider Buying and Selling at Maplebear

In related news, CFO Emily Reuter sold 50,000 shares of the company’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $55.00, for a total value of $2,750,000.00. Following the transaction, the chief financial officer owned 599,337 shares in the company, valued at approximately $32,963,535. This represents a 7.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lisa Blackwood-Kapral sold 3,016 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $49.58, for a total transaction of $149,533.28. Following the completion of the transaction, the chief accounting officer owned 34,699 shares in the company, valued at approximately $1,720,376.42. This trade represents a 8.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 309,928 shares of company stock worth $16,121,073 in the last ninety days. Insiders own 24.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Several hedge funds have recently bought and sold shares of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Maplebear by 16.9% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 97,550 shares of the company’s stock worth $4,206,000 after purchasing an additional 14,100 shares in the last quarter. Motley Fool Asset Management LLC boosted its holdings in Maplebear by 7.3% in the 3rd quarter. Motley Fool Asset Management LLC now owns 8,750 shares of the company’s stock valued at $377,000 after purchasing an additional 592 shares during the period. Angeles Wealth Management LLC boosted its holdings in Maplebear by 3.7% in the 3rd quarter. Angeles Wealth Management LLC now owns 4,965 shares of the company’s stock valued at $214,000 after purchasing an additional 179 shares during the period. Signaturefd LLC boosted its holdings in Maplebear by 73.6% in the 3rd quarter. Signaturefd LLC now owns 2,661 shares of the company’s stock valued at $115,000 after purchasing an additional 1,128 shares during the period. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of Maplebear during the 3rd quarter worth approximately $346,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear News Summary

Here are the key news stories impacting Maplebear this week:

• Positive Sentiment: DoorDash’s reported interest highlights the strategic value of Instacart’s grocery marketplace, retailer technology and advertising platform. A completed transaction could deliver shareholders a premium and expand DoorDash’s presence beyond restaurant delivery. Reported $17 billion DoorDash deal
• Positive Sentiment: Unusually heavy call-option activity signals bullish short-term positioning, while Citizens JMP’s price-target increase to $65 and “market outperform” rating provide additional support for sentiment.
• Neutral Sentiment: The acquisition reports have pushed CART close to its 52-week high, but the stock may be vulnerable to volatility if DoorDash does not confirm the talks, negotiations fail, or final terms differ materially from the reported valuation. A Yahoo Finance analysis specifically questions whether the potential sale is already reflected in the share price. Maplebear valuation analysis
• Negative Sentiment: Maplebear plans to wind down its Caper Cart smart-cart operations by the second quarter of 2027 and expects up to $80 million in charges. The exit removes a potential growth initiative and suggests the project did not meet expectations. Caper Cart wind-down
• Negative Sentiment: CEO Chris Rogers sold 24,665 shares for about $1.48 million, reducing his position by 2.76%. Another insider, Morgan Fong, sold $937,890 of stock. Both transactions occurred under pre-arranged Rule 10b5-1 plans and executives retained substantial holdings, but the sales may weigh on sentiment after the rally. Maplebear insider sale

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, operates a technology-enabled grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can order groceries and other household products for delivery or pickup from participating supermarkets, specialty food stores, convenience retailers and other merchants.

The company also provides retailers with e-commerce, fulfillment and advertising solutions. Its platform supports online storefronts, order management, delivery logistics, customer engagement and data-driven marketing, allowing retail partners to offer digital shopping services and reach consumers through Instacart’s marketplace.

Founded in 2012, Maplebear serves customers across the United States and Canada.