JMP Securities Reiterates "Market Outperform" Rating for Maplebear (NASDAQ:CART)

JMP Securities reiterated their market outperform rating on shares of Maplebear (NASDAQ:CART - Free Report) in a research note published on Thursday,Benzinga reports. JMP Securities currently has a $55.00 price target on the stock.

Other research analysts have also issued research reports about the company. Wells Fargo & Company reduced their price target on Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Loop Capital lifted their price target on Maplebear from $52.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Needham & Company LLC reiterated a "buy" rating and set a $56.00 price target on shares of Maplebear in a report on Friday, May 2nd. Benchmark reissued a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Finally, Oppenheimer cut their price objective on Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Thirteen equities research 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.91.

Maplebear Stock Performance

Shares of NASDAQ CART traded down $0.09 during trading on Thursday, hitting $44.08. 3,294,371 shares of the company were exchanged, compared to its average volume of 4,016,135. Maplebear has a 12-month low of $29.84 and a 12-month high of $53.44. The company has a fifty day moving average price of $43.50 and a 200-day moving average price of $43.73. The firm has a market capitalization of $11.57 billion, a PE ratio of 29.58, a P/E/G ratio of 1.19 and a beta of 1.30.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $896.86 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The firm's revenue was up 9.4% on a year-over-year basis. Research analysts anticipate that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insider Transactions at Maplebear

In related news, Director Levien Meredith A. Kopit sold 4,225 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total transaction of $200,476.25. Following the completion of the sale, the director now owns 20,829 shares in the company, valued at $988,336.05. The trade was a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fidji Simo sold 8,133 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $41.60, for a total value of $338,332.80. Following the sale, the chief executive officer now owns 1,646,426 shares of the company's stock, valued at approximately $68,491,321.60. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,640 shares of company stock valued at $843,579. 26.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Maplebear

Institutional investors have recently added to or reduced their stakes in the business. Proathlete Wealth Management LLC purchased a new stake in Maplebear during the first quarter worth approximately $26,000. Jones Financial Companies Lllp lifted its stake in Maplebear by 46.6% during the fourth 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 last quarter. Allworth Financial LP lifted its stake in Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after purchasing an additional 420 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after purchasing an additional 717 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Maplebear by 914.1% during the first quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock worth $40,000 after purchasing an additional 905 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

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.