Maplebear (NASDAQ:CART - Get Free Report) had its target price raised by equities research analysts at Jefferies Financial Group from $48.00 to $50.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Jefferies Financial Group's price target would suggest a potential upside of 9.77% from the company's current price.
A number of other analysts also recently weighed in on CART. Seaport Res Ptn upgraded Maplebear to a "strong-buy" rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $55.00 price objective on shares of Maplebear in a report on Wednesday, February 26th. Barclays lifted their price objective on Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $56.00 price objective on shares of Maplebear in a report on Friday, May 2nd. Finally, Citigroup lifted their price objective on Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Maplebear currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.61.
View Our Latest Analysis on CART
Maplebear Stock Down 0.5%
Shares of Maplebear stock traded down $0.21 during trading on Tuesday, reaching $45.55. The company's stock had a trading volume of 3,157,383 shares, compared to its average volume of 4,045,732. Maplebear has a 12-month low of $29.84 and a 12-month high of $53.44. The company has a market capitalization of $11.96 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. The business has a 50 day moving average price of $42.57 and a 200-day moving average price of $43.56.
Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $897.00 million during the quarter, compared to analysts' expectations of $896.86 million. During the same quarter last year, the firm earned $0.43 earnings per share. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts predict that Maplebear will post 1.43 EPS for the current fiscal year.
Insider Buying and Selling at Maplebear
In other Maplebear news, CEO Fidji Simo sold 2,033 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the sale, the chief executive officer now owns 1,654,559 shares in the company, valued at $66,182,360. This trade represents a 0.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the sale, the general counsel now owns 484,292 shares of the company's stock, valued at approximately $20,616,310.44. This trade represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,415 shares of company stock worth $643,103 in the last 90 days. 26.00% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of CART. Victory Capital Management Inc. lifted its holdings in Maplebear by 11,501.2% during the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock worth $187,495,000 after buying an additional 4,487,654 shares during the last quarter. Boston Partners bought a new stake in Maplebear during the 4th quarter valued at $111,506,000. Altimeter Capital Management LP bought a new stake in Maplebear during the 4th quarter valued at $105,108,000. Vanguard Group Inc. raised its stake in Maplebear by 16.8% during the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock valued at $661,409,000 after acquiring an additional 2,300,288 shares in the last quarter. Finally, Norges Bank bought a new stake in Maplebear during the 4th quarter valued at $95,162,000. Institutional investors own 63.09% of the company's stock.
About Maplebear
(
Get Free Report)
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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