Maplebear Inc. (NASDAQ:CART) Receives $51.91 Average Price Target from Analysts

Shares of Maplebear Inc. (NASDAQ:CART - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twenty-seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Twelve 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 target among brokerages that have updated their coverage on the stock in the last year is $51.91.

Several research firms have recently weighed in on CART. Stifel Nicolaus decreased their price target on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Jefferies Financial Group upped their price target on shares of Maplebear from $48.00 to $50.00 and gave the stock a "hold" rating in a report on Tuesday, May 27th. Loop Capital upped their price target on shares of Maplebear from $52.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Wells Fargo & Company decreased their price target on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Finally, Macquarie reaffirmed an "outperform" rating and issued a $55.00 price target on shares of Maplebear in a report on Tuesday, May 6th.

Insider Buying and Selling

In related news, Director Levien Meredith A. Kopit sold 4,225 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $47.45, for a total value of $200,476.25. Following the sale, the director directly owned 20,829 shares of the company's stock, valued at $988,336.05. This represents a 16.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Morgan Fong sold 4,680 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $43.90, for a total transaction of $205,452.00. Following the transaction, the general counsel directly owned 456,680 shares in the company, valued at approximately $20,048,252. This trade represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,287 shares of company stock valued at $967,711 in the last ninety days. 26.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Maplebear

Several institutional investors have recently bought and sold shares of CART. Victory Capital Management Inc. boosted its stake in Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock valued at $187,495,000 after acquiring an additional 4,487,654 shares in the last quarter. Boston Partners purchased a new position in shares of Maplebear in the fourth quarter worth $111,506,000. Altimeter Capital Management LP purchased a new position in shares of Maplebear during the fourth quarter worth $105,108,000. Vanguard Group Inc. raised its holdings in shares of Maplebear by 16.8% during the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after purchasing an additional 2,300,288 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Maplebear during the fourth quarter worth $95,162,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Price Performance

Shares of NASDAQ:CART traded up $1.15 during trading on Wednesday, hitting $47.23. 1,993,603 shares of the company were exchanged, compared to its average volume of 3,935,965. The company has a market cap of $12.40 billion, a PE ratio of 31.07, a P/E/G ratio of 1.99 and a beta of 1.21. The stock has a 50 day moving average of $44.84 and a 200 day moving average of $43.91. Maplebear has a 52-week low of $29.84 and a 52-week high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $897.00 million for the quarter, compared to analysts' expectations of $896.86 million. Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The company's revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. Sell-side analysts forecast that Maplebear will post 1.43 EPS for the current fiscal 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.