Maplebear Inc. (NASDAQ:CART) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Maplebear Inc. (NASDAQ:CART) has garnered a consensus rating of "Moderate Buy" based on evaluations from 26 analysts, with a target price averaging around $55.71.
• The company's recent earnings report revealed an EPS of $0.41, exceeding analyst expectations, along with quarterly revenue of $914 million, reflecting an 11.1% increase compared to the previous year.
• Significant insider transactions were reported, with insiders selling 4,971,102 shares totaling approximately $237.5 million over the last quarter, indicating a notable reduction in their holdings.

Shares of Maplebear Inc. (NASDAQ:CART - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-six analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $55.7083.

Several analysts have weighed in on CART shares. Morgan Stanley lifted their price objective on shares of Maplebear from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Friday, August 15th. Stifel Nicolaus lifted their price objective on shares of Maplebear from $55.00 to $64.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Needham & Company LLC lifted their price objective on shares of Maplebear from $56.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Robert W. Baird dropped their price objective on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday, August 22nd. Finally, JMP Securities lifted their price objective on shares of Maplebear from $55.00 to $60.00 and gave the stock a "market outperform" rating in a research note on Friday, August 8th.

Maplebear Stock Performance

NASDAQ CART opened at $46.36 on Monday. The firm has a 50-day moving average of $46.82 and a 200-day moving average of $44.05. The stock has a market cap of $12.21 billion, a PE ratio of 26.80, a P/E/G ratio of 1.55 and a beta of 1.22. Maplebear has a 52-week low of $35.14 and a 52-week high of $53.50.

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

Insider Buying and Selling at Maplebear

In other Maplebear news, insider Daniel Danker sold 10,037 shares of Maplebear stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $48.82, for a total value of $490,006.34. Following the completion of the sale, the insider owned 470,190 shares in the company, valued at $22,954,675.80. The trade was a 2.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $47.75, for a total transaction of $232,268,988.00. The disclosure for this sale can be found here. Insiders have sold 4,971,102 shares of company stock worth $237,536,372 over the last quarter. Company insiders own 26.00% of the company's stock.

Hedge Funds Weigh In On Maplebear

Several hedge funds have recently bought and sold shares of the company. Securian Asset Management Inc. increased its holdings in Maplebear by 2.1% in the 2nd quarter. Securian Asset Management Inc. now owns 12,509 shares of the company's stock valued at $566,000 after buying an additional 252 shares during the period. Smartleaf Asset Management LLC increased its holdings in Maplebear by 9.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company's stock valued at $134,000 after buying an additional 261 shares during the period. Rafferty Asset Management LLC grew its holdings in shares of Maplebear by 2.5% during the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company's stock valued at $498,000 after purchasing an additional 273 shares during the last quarter. CWM LLC increased its position in Maplebear by 35.1% during the 1st quarter. CWM LLC now owns 1,058 shares of the company's stock worth $42,000 after purchasing an additional 275 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Maplebear by 27.1% in the 1st quarter. Signaturefd LLC now owns 1,335 shares of the company's stock valued at $53,000 after purchasing an additional 285 shares during the last quarter. 63.09% of the stock is owned by institutional investors.

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.

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