Maplebear Inc. (NASDAQ:CART) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Maplebear Inc. (NASDAQ:CART) has received an average recommendation of "Moderate Buy" from analysts, with 13 buy ratings and 11 hold ratings among 27 ratings firms.
• The company reported a net margin of 13.76% and a revenue increase of 11.1% year-over-year, with quarterly earnings of $0.41 per share exceeding analysts' expectations.
• Insider transactions saw significant sales, including over 4.8 million shares sold by Grosvenor L.P. and additional sales by Director Fidji Simo, raising concerns about insider confidence in the stock.

Maplebear Inc. (NASDAQ:CART - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty-seven ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $53.4167.

CART has been the topic of several research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Maplebear in a report on Saturday, September 27th. Jefferies Financial Group lifted their price objective on Maplebear from $50.00 to $55.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. Robert W. Baird reduced their price objective on Maplebear from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 1st. Citigroup boosted their price target on shares of Maplebear from $57.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Mizuho assumed coverage on shares of Maplebear in a research report on Tuesday, September 30th. They issued a "neutral" rating and a $45.00 price target on the stock.

Maplebear Price Performance

Maplebear stock opened at $39.09 on Friday. The stock has a market cap of $10.30 billion, a P/E ratio of 22.60, a PEG ratio of 1.33 and a beta of 1.10. Maplebear has a 1 year low of $34.87 and a 1 year high of $53.50. The firm's 50 day moving average price is $44.04 and its 200-day moving average price is $44.24.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. The company had revenue of $914.00 million for the quarter, compared to the consensus estimate of $896.55 million. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. Maplebear's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 EPS. As a group, equities analysts expect that Maplebear will post 1.43 EPS for the current year.

Insider Transactions at Maplebear

In other Maplebear news, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the business's stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Fidji Simo sold 7,140 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.30, for a total value of $337,722.00. Following the sale, the director directly owned 573,807 shares in the company, valued at $27,141,071.10. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,986,367 shares of company stock worth $238,211,261. 26.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Maplebear

Several large investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its position in Maplebear by 4,154.7% during the first quarter. Principal Financial Group Inc. now owns 372,581 shares of the company's stock valued at $14,862,000 after acquiring an additional 363,824 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Maplebear by 18.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock valued at $82,000 after acquiring an additional 322 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Maplebear by 7.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,166 shares of the company's stock valued at $246,000 after acquiring an additional 433 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in Maplebear by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,066 shares of the company's stock valued at $43,000 after purchasing an additional 533 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in Maplebear by 542.8% during the 1st quarter. New York State Teachers Retirement System now owns 101,720 shares of the company's stock valued at $4,058,000 after purchasing an additional 85,896 shares during the last quarter. 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.

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