Maplebear (NASDAQ:CART - Free Report) had its target price lifted by Jefferies Financial Group from $50.00 to $55.00 in a report released on Monday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.
CART has been the topic of a number of other research reports. Citigroup lifted their price objective on Maplebear from $57.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Robert W. Baird lifted their price objective on Maplebear from $47.00 to $52.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded Maplebear from a "hold" rating to a "buy" rating in a research report on Saturday. Stifel Nicolaus upped their price target on Maplebear from $55.00 to $64.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Barclays raised their price objective on Maplebear from $61.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.33.
View Our Latest Report on CART
Maplebear Price Performance
Maplebear stock traded down $5.87 during trading on Monday, reaching $45.11. 17,262,629 shares of the company were exchanged, compared to its average volume of 4,285,773. Maplebear has a 52-week low of $31.59 and a 52-week high of $53.50. The company has a market capitalization of $11.88 billion, a P/E ratio of 26.08, a PEG ratio of 1.70 and a beta of 1.21. The stock's 50 day simple moving average is $46.88 and its two-hundred day simple moving average is $44.77.
Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. Maplebear had a return on equity of 15.69% and a net margin of 13.76%. The firm had revenue of $914.00 million for the quarter, compared to the consensus estimate of $896.55 million. During the same quarter last year, the business posted $0.20 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts forecast that Maplebear will post 1.43 earnings per share for the current year.
Insider Activity
In related news, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $47.75, for a total transaction of $232,268,988.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total value of $200,476.25. Following the transaction, the director directly owned 20,829 shares of the company's stock, valued at $988,336.05. The trade was a 16.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,975,327 shares of company stock worth $237,736,848 over the last three months. Company insiders own 26.00% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its position in shares of Maplebear by 35.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 13,628 shares of the company's stock worth $564,000 after acquiring an additional 3,532 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Maplebear by 139.3% during the 4th quarter. Cerity Partners LLC now owns 84,704 shares of the company's stock worth $3,508,000 after acquiring an additional 49,309 shares in the last quarter. Invesco Ltd. boosted its position in shares of Maplebear by 11.6% during the 4th quarter. Invesco Ltd. now owns 1,410,922 shares of the company's stock worth $58,440,000 after acquiring an additional 147,012 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Maplebear during the 4th quarter worth about $3,861,000. Finally, Sterling Capital Management LLC boosted its position in shares of Maplebear by 125.3% during the 4th quarter. Sterling Capital Management LLC now owns 14,780 shares of the company's stock worth $612,000 after acquiring an additional 8,220 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.
About Maplebear
(
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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.
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