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

Key Points

• Maplebear (NASDAQ:CART) has a consensus analyst rating of “Moderate Buy” from 25 brokerages, with an average 12-month price target of about $51.09.
• The company’s latest quarterly results were mixed: EPS of $0.57 slightly missed estimates, while revenue of $1.02 billion beat expectations and rose 13.6% year over year.
• Shares opened at $44.21, and recent insider sales included large transactions by the CAO and a director, while institutional investors have been increasing their stakes in the stock.

Maplebear Inc. (NASDAQ:CART - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twenty-five brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $51.0909.

CART has been the topic of a number of analyst reports. Wall Street Zen lowered Maplebear from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Argus raised Maplebear to a "strong-buy" rating in a research report on Thursday, March 5th. Raymond James Financial raised Maplebear from a "hold" rating to a "moderate buy" rating in a research report on Thursday, April 9th. Wells Fargo & Company lifted their target price on Maplebear from $45.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 7th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and set a $60.00 target price on shares of Maplebear in a research report on Monday.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $44.21 on Wednesday. Maplebear has a 1 year low of $32.73 and a 1 year high of $53.50. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 0.58 and a beta of 0.88. The stock's 50-day simple moving average is $41.16 and its 200-day simple moving average is $40.28.

Maplebear (NASDAQ:CART - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the firm posted $0.37 earnings per share. The firm's revenue was up 13.6% compared to the same quarter last year. As a group, research analysts predict that Maplebear will post 2.45 EPS for the current year.

Insider Activity

In related news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the completion of the sale, the chief accounting officer directly owned 58,971 shares of the company's stock, valued at $2,373,582.75. The trade was a 13.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the business's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the sale, the director directly owned 741,523 shares of the company's stock, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 24.00% of the stock is owned by insiders.

Institutional Trading of Maplebear

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Liontrust Investment Partners LLP increased its holdings in Maplebear by 40.5% in the first quarter. Liontrust Investment Partners LLP now owns 219,822 shares of the company's stock valued at $8,235,000 after buying an additional 63,415 shares during the last quarter. Bank of America Corp DE increased its holdings in Maplebear by 16.5% in the first quarter. Bank of America Corp DE now owns 1,562,097 shares of the company's stock valued at $58,516,000 after buying an additional 221,036 shares during the last quarter. California State Teachers Retirement System increased its holdings in Maplebear by 23.4% in the first quarter. California State Teachers Retirement System now owns 198,552 shares of the company's stock valued at $7,438,000 after buying an additional 37,640 shares during the last quarter. Empowered Funds LLC increased its holdings in Maplebear by 127.9% in the first quarter. Empowered Funds LLC now owns 105,193 shares of the company's stock valued at $3,941,000 after buying an additional 59,039 shares during the last quarter. Finally, Quantinno Capital Management LP increased its holdings in Maplebear by 27.7% in the first quarter. Quantinno Capital Management LP now owns 190,090 shares of the company's stock valued at $7,121,000 after buying an additional 41,213 shares during the last quarter. 63.09% of the stock is owned by 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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