Maplebear Inc. (NASDAQ:CART) Receives $50.61 Consensus Target Price from Brokerages

Maplebear Inc. (NASDAQ:CART - Get Free Report) has received an average rating of "Moderate Buy" from the twenty-eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $50.48.

A number of equities analysts have recently commented on the stock. Mizuho reduced their target price on shares of Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their target price on Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Stifel Nicolaus dropped their price target on Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a research report on Wednesday. BMO Capital Markets raised their price target on Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $56.00 price objective on shares of Maplebear in a research note on Wednesday, February 26th.

Insider Buying and Selling

In related news, CEO Fidji Simo sold 2,033 shares of Maplebear 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 transaction, the chief executive officer now directly owns 1,654,559 shares in the company, valued at approximately $66,182,360. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of the business'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 completion of the transaction, the general counsel now directly owns 484,292 shares of the company's stock, valued at $20,616,310.44. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,165 shares of company stock valued at $1,541,785 over the last 90 days. Insiders own 26.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CART. Janney Montgomery Scott LLC increased its stake in shares of Maplebear by 212.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock valued at $992,000 after purchasing an additional 16,267 shares in the last quarter. Cherry Creek Investment Advisors Inc. acquired a new stake in shares of Maplebear in the fourth quarter valued at about $235,000. US Bancorp DE increased its stake in shares of Maplebear by 22.3% during the fourth quarter. US Bancorp DE now owns 13,077 shares of the company's stock worth $542,000 after purchasing an additional 2,387 shares in the last quarter. Nordea Investment Management AB acquired a new position in shares of Maplebear during the 4th quarter worth about $2,078,000. Finally, Commonwealth Equity Services LLC purchased a new position in Maplebear in the 4th quarter valued at about $234,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Price Performance

Shares of NASDAQ:CART traded down $0.34 during trading hours on Friday, hitting $42.01. 3,558,231 shares of the company's stock traded hands, compared to its average volume of 4,052,813. The business has a fifty day moving average price of $41.48 and a 200-day moving average price of $43.55. Maplebear has a 1 year low of $29.84 and a 1 year high of $53.44. The firm has a market capitalization of $11.03 billion, a P/E ratio of 28.19, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. As a group, equities analysts predict that Maplebear will post 1.43 earnings per share for the current year.

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.