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

Key Points

• Maplebear (NASDAQ:CART) has a consensus analyst rating of “Moderate Buy” from 25 covering firms, with an average 12-month target price of about $51.09.
• The company’s latest quarterly results showed revenue of $1.02 billion, beating estimates, while EPS of $0.57 came in just below expectations; revenue rose 13.6% year over year.
• Recent updates also highlighted insider share sales, including transactions by the general counsel and chief accounting officer, while institutional investors and hedge funds now hold 63.09% of the stock.

Shares of Maplebear Inc. (NASDAQ:CART - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-five ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $51.0909.

Several research firms have commented on CART. Wells Fargo & Company increased their price target on shares of Maplebear from $45.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Maplebear from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Stifel Nicolaus decreased their price target on shares of Maplebear from $49.00 to $46.00 and set a "buy" rating for the company in a research report on Tuesday, January 27th. Benchmark decreased their price target on shares of Maplebear from $60.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, February 10th. Finally, Raymond James Financial raised shares of Maplebear from a "hold" rating to a "moderate buy" rating in a research report on Thursday, April 9th.

Insider Activity

In other Maplebear news, General Counsel Morgan Fong sold 126,083 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the completion of the sale, the general counsel directly owned 386,643 shares of the company's stock, valued at approximately $14,340,588.87. This represents a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total transaction of $377,947.50. Following the sale, the chief accounting officer directly owned 58,971 shares of the company's stock, valued at approximately $2,373,582.75. The trade was a 13.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 144,863 shares of company stock valued at $5,418,135. Insiders own 24.00% of the company's stock.

Hedge Funds Weigh In On Maplebear

Hedge funds have recently modified their holdings of the stock. PenderFund Capital Management Ltd. acquired a new position in shares of Maplebear during the fourth quarter valued at about $27,000. Pinnacle Bancorp Inc. acquired a new position in shares of Maplebear during the first quarter valued at about $25,000. Hantz Financial Services Inc. increased its holdings in shares of Maplebear by 78.6% during the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company's stock valued at $32,000 after acquiring an additional 389 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company's stock valued at $34,000 after acquiring an additional 244 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Maplebear by 761.3% during the fourth quarter. IFP Advisors Inc now owns 956 shares of the company's stock valued at $43,000 after acquiring an additional 845 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Price Performance

NASDAQ:CART opened at $41.22 on Friday. Maplebear has a 1-year low of $32.73 and a 1-year high of $53.50. The company has a 50-day moving average of $39.85 and a 200 day moving average of $40.03. The firm has a market cap of $9.69 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 0.56 and a beta of 0.96.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.01). The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The firm's revenue was up 13.6% compared to the same quarter last year. During the same period last year, the company earned $0.37 earnings per share. Sell-side analysts anticipate that Maplebear will post 2.43 EPS for the current fiscal year.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers' existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.

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