Analysts Set Maplebear Inc. (NASDAQ:CART) Target Price at $51.91

Shares of Maplebear Inc. (NASDAQ:CART - Get Free Report) have received an average rating of "Moderate Buy" from the twenty-seven research firms that are currently covering the firm, MarketBeat reports. Twelve equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $51.91.

CART has been the subject of several analyst reports. Bank of America upped their target price on shares of Maplebear from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Stifel Nicolaus decreased their price objective on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. BMO Capital Markets raised their target price on Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a research note on Wednesday, February 26th. FBN Securities began coverage on Maplebear in a research report on Friday, March 28th. They set a "sector perform" rating and a $44.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their price target on Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th.

Insider Buying and Selling

In related news, CEO Fidji Simo sold 2,033 shares of the firm's stock in a transaction dated 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 owns 1,654,559 shares of the company's stock, valued at $66,182,360. This trade represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the sale, the general counsel now owns 484,292 shares in the company, valued at approximately $20,616,310.44. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,640 shares of company stock valued at $843,579 over the last quarter. Corporate insiders own 26.00% of the company's stock.

Institutional Trading of Maplebear

A number of hedge funds and other institutional investors have recently made changes to their positions in CART. Proathlete Wealth Management LLC bought a new stake in Maplebear during the first quarter worth approximately $26,000. Jones Financial Companies Lllp boosted its stake in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after acquiring an additional 222 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after acquiring an additional 420 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of 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 period. Finally, UMB Bank n.a. lifted its holdings in shares of Maplebear by 914.1% during the first quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after purchasing an additional 905 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors.

Maplebear Stock Down 3.8%

Shares of NASDAQ CART traded down $1.74 on Friday, hitting $44.18. The company had a trading volume of 3,458,602 shares, compared to its average volume of 4,016,851. Maplebear has a 12-month low of $29.84 and a 12-month high of $53.44. The firm has a market capitalization of $11.60 billion, a P/E ratio of 29.65, a PEG ratio of 1.19 and a beta of 1.30. The business has a 50 day moving average of $43.36 and a two-hundred day moving average of $43.73.

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

About Maplebear

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.