Maplebear Inc. (NASDAQ:CART) Receives $55.46 Average Price Target from Analysts

Key Points

• Maplebear Inc. (NASDAQ:CART) has an average analyst rating of "Moderate Buy", with 16 buy ratings and a one-year price target average of $55.46.
• The company's recent quarterly earnings report showed earnings per share of $0.41, exceeding estimates and representing an 11.1% revenue increase year-over-year.
• Insider trading revealed significant selling activity, with 4.9 million shares sold by corporate insiders in the last three months, indicating possible changes in investor sentiment.

Maplebear Inc. (NASDAQ:CART - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-six ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $55.6250.

A number of research firms have weighed in on CART. Benchmark raised Maplebear from a "hold" rating to a "buy" rating and set a $67.00 target price for the company in a report on Friday, August 8th. Needham & Company LLC boosted their price objective on Maplebear from $56.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, August 8th. JMP Securities boosted their price objective on Maplebear from $55.00 to $60.00 and gave the stock a "market outperform" rating in a report on Friday, August 8th. Barclays boosted their price objective on Maplebear from $61.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, Stifel Nicolaus boosted their price objective on Maplebear from $55.00 to $64.00 and gave the stock a "buy" rating in a report on Friday, August 8th.

Maplebear Stock Up 0.5%

CART traded up $0.22 during trading hours on Thursday, hitting $42.97. The stock had a trading volume of 5,448,244 shares, compared to its average volume of 5,855,272. The company's fifty day simple moving average is $46.85 and its 200 day simple moving average is $44.51. Maplebear has a 1 year low of $33.17 and a 1 year high of $53.50. The stock has a market cap of $11.32 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 1.43 and a beta of 1.21.

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

Insider Activity at Maplebear

In related 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 value of $232,268,988.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $200,476.25. Following the completion of the sale, the director owned 20,829 shares of the company's stock, valued at $988,336.05. The trade was a 16.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,975,327 shares of company stock valued at $237,736,848 in the last ninety days. Insiders own 26.00% of the company's stock.

Institutional Trading of Maplebear

Hedge funds have recently bought and sold shares of the company. Proathlete Wealth Management LLC bought a new stake in Maplebear in the 1st quarter worth approximately $26,000. NewEdge Advisors LLC lifted its position in Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after buying an additional 717 shares during the last quarter. Brooklyn Investment Group bought a new stake in Maplebear in the 1st quarter worth approximately $40,000. UMB Bank n.a. lifted its position in Maplebear by 914.1% in the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock worth $40,000 after buying an additional 905 shares during the last quarter. Finally, Spire Wealth Management bought a new stake in Maplebear in the 1st quarter worth approximately $41,000. 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.