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

Key Points

• Maplebear (NASDAQ:CART), the parent of Instacart, 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 earnings showed revenue of $1.02 billion, up 13.6% year over year, but EPS of $0.57 missed the $0.58 estimate by a penny.
• Shares traded around $48.39 in recent trading, while insider activity included notable sales by Director Ravi Gupta and CAO Lisa Blackwood-Kapral; institutions own 63.09% of the stock.

Maplebear Inc. (NASDAQ:CART - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twenty-five brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $51.0909.

A number of research firms have issued reports on CART. Needham & Company LLC reiterated a "buy" rating and issued a $55.00 price objective on shares of Maplebear in a report on Thursday, May 7th. Wall Street Zen cut shares of Maplebear from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Weiss Ratings raised shares of Maplebear from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Barclays increased their price target on shares of Maplebear from $65.00 to $69.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Finally, Citizens Jmp reissued a "market outperform" rating and set a $60.00 price target on shares of Maplebear in a research report on Monday, June 15th.

Insider Transactions at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of Maplebear stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the transaction, the director directly owned 741,523 shares in the company, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $2,373,582.75. This represents a 13.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 24.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. purchased a new stake in shares of Maplebear in the first quarter worth $25,000. PenderFund Capital Management Ltd. purchased a new position in shares of Maplebear in the 4th quarter worth about $27,000. Allworth Financial LP raised its position in shares of Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company's stock worth $34,000 after purchasing an additional 244 shares during the last quarter. IFP Advisors Inc raised its position in shares of Maplebear by 761.3% in the 4th quarter. IFP Advisors Inc now owns 956 shares of the company's stock worth $43,000 after purchasing an additional 845 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock worth $43,000 after purchasing an additional 787 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Trading Up 0.2%

Maplebear stock traded up $0.11 during trading hours on Friday, hitting $48.39. 6,367,810 shares of the stock traded hands, compared to its average volume of 4,100,508. Maplebear has a one year low of $32.73 and a one year high of $53.50. The firm's 50-day moving average price is $42.87 and its two-hundred day moving average price is $40.59. The company has a market cap of $11.37 billion, a PE ratio of 27.03, a PEG ratio of 0.66 and a beta of 0.75.

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 the consensus estimate of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company posted $0.37 EPS. The firm's revenue was up 13.6% on a year-over-year basis. On average, sell-side analysts expect that Maplebear will post 2.45 earnings per share for the current fiscal year.

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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