Maplebear Inc. (NASDAQ:CART) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Maplebear has a consensus analyst rating of Hold from 27 analysts (2 sell, 11 hold, 13 buy, 1 strong buy) and an average 12‑month price target of $51.04.
• CART opened at $38.08 and trades in a one‑year range of $32.73–$53.50, with a market cap of $9.16 billion, a P/E of 23.95 and a PEG of 0.58.
• General Counsel Morgan Fong sold 4,914 shares at an average of $45.21; insiders own 26.0% of the stock while institutional/hedge fund ownership is about 63.09%.

Maplebear Inc. (NASDAQ:CART - Get Free Report) has earned a consensus rating of "Hold" from the twenty-seven analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $51.04.

CART has been the topic of a number of research analyst reports. Argus upgraded Maplebear to a "strong-buy" rating in a report on Thursday. Benchmark reduced their price target on Maplebear from $60.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, February 10th. Wall Street Zen upgraded Maplebear from a "hold" rating to a "buy" rating in a report on Saturday, February 14th. Cantor Fitzgerald raised their price objective on Maplebear from $45.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, January 8th. Finally, Needham & Company LLC boosted their target price on shares of Maplebear from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, February 13th.

Maplebear Price Performance

CART stock opened at $38.08 on Monday. Maplebear has a 1 year low of $32.73 and a 1 year high of $53.50. The company has a market cap of $9.16 billion, a P/E ratio of 23.95, a PEG ratio of 0.58 and a beta of 0.98. The firm has a 50-day moving average of $38.70 and a 200 day moving average of $40.64.

Insider Buying and Selling

In related news, General Counsel Morgan Fong sold 4,914 shares of the business's stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $45.21, for a total transaction of $222,161.94. Following the sale, the general counsel owned 404,940 shares of the company's stock, valued at $18,307,337.40. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 26.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Maplebear

Several large investors have recently made changes to their positions in CART. Royal Bank of Canada increased its holdings in Maplebear by 51.2% in the 1st quarter. Royal Bank of Canada now owns 131,789 shares of the company's stock worth $5,256,000 after buying an additional 44,642 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Maplebear by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,673 shares of the company's stock valued at $67,000 after acquiring an additional 698 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Maplebear by 358.5% during the 1st quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company's stock valued at $128,000 after acquiring an additional 2,502 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Maplebear by 17.4% in the first quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company's stock worth $15,585,000 after acquiring an additional 57,879 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Maplebear in the first quarter worth approximately $268,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

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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