Maplebear (NASDAQ:CART) Receives Market Outperform Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Maplebear (NASDAQ:CART - Free Report) in a research report report published on Thursday,Benzinga reports. They currently have a $55.00 price objective on the stock.

A number of other equities research analysts also recently commented on the stock. Benchmark reaffirmed a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. BMO Capital Markets boosted their price objective on shares of Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a research report on Wednesday, February 26th. Jefferies Financial Group boosted their price objective on shares of Maplebear from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Tuesday, May 27th. Morgan Stanley boosted their price objective on shares of Maplebear from $44.00 to $45.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Finally, Bank of America boosted their price objective on shares of Maplebear from $51.00 to $53.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Thirteen investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Maplebear presently has an average rating of "Moderate Buy" and a consensus price target of $51.91.

Maplebear Trading Down 1.6%

NASDAQ:CART traded down $0.71 during trading hours on Thursday, reaching $43.37. The company had a trading volume of 3,407,036 shares, compared to its average volume of 4,023,535. Maplebear has a 52 week low of $29.84 and a 52 week high of $53.44. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 1.19 and a beta of 1.30. The firm's 50 day moving average price is $43.76 and its 200-day moving average price is $43.74.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. During the same period last year, the firm posted $0.43 EPS. The company's revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts forecast that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 8,133 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $41.60, for a total transaction of $338,332.80. Following the sale, the chief executive officer now directly owns 1,646,426 shares in the company, valued at approximately $68,491,321.60. This represents a 0.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction of $223,449.93. Following the sale, the general counsel now owns 484,292 shares in the company, valued at $20,616,310.44. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,640 shares of company stock worth $843,579 in the last 90 days. 26.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Maplebear

Hedge funds have recently made changes to their positions in the business. Proathlete Wealth Management LLC purchased a new stake in shares of Maplebear during the 1st quarter valued at about $26,000. Jones Financial Companies Lllp grew its holdings in Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Allworth Financial LP grew its holdings in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after purchasing an additional 420 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after purchasing an additional 717 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in Maplebear by 914.1% during the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after purchasing an additional 905 shares during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Maplebear Company Profile

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.