Maplebear (NASDAQ:CART) Given New $58.00 Price Target at Citigroup

Key Points

• Citigroup raised Maplebear’s price target to $58 from $50 and maintained a Buy rating, implying 16.72% upside from the stock’s $49.69 price.
• Analyst sentiment is broadly positive: Maplebear has a “Moderate Buy” consensus rating and an average price target of $55.52, with several firms recently raising their targets to between $59 and $65.
• Maplebear’s latest quarterly revenue rose 14.1% year over year to $1.04 billion, slightly exceeding estimates, though earnings per share of $0.45 fell short of the $0.54 consensus.

Maplebear (NASDAQ:CART - Get Free Report) had its target price hoisted by investment analysts at Citigroup from $50.00 to $58.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price objective indicates a potential upside of 16.72% from the stock's current price.

Several other research firms have also weighed in on CART. JPMorgan Chase & Co. lifted their target price on shares of Maplebear from $55.00 to $62.00 and gave the company an "overweight" rating in a report on Friday. Wedbush assumed coverage on Maplebear in a research report on Thursday, July 16th. They issued an "outperform" rating and a $59.00 price objective on the stock. Cantor Fitzgerald boosted their price objective on Maplebear from $56.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday. Oppenheimer increased their target price on Maplebear from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Guggenheim raised their target price on Maplebear from $44.00 to $46.00 and gave the company a "neutral" rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $55.52.

Maplebear Stock Performance

Shares of NASDAQ:CART traded down $0.48 during trading on Monday, reaching $49.69. 959,971 shares of the stock were exchanged, compared to its average volume of 4,539,628. The firm's 50-day moving average price is $44.97 and its 200 day moving average price is $40.90. The firm has a market cap of $11.68 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78. Maplebear has a 12-month low of $32.73 and a 12-month high of $52.31.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.09). Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the firm earned $0.41 earnings per share. The company's quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts forecast that Maplebear will post 2.43 EPS for the current year.

Insider Buying and Selling at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the transaction, the director owned 741,523 shares in the company, valued at approximately $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 24.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Maplebear

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

Key Headlines Impacting Maplebear

Here are the key news stories impacting Maplebear this week:

• Positive Sentiment: Expanded marketplace partnership: Instacart is adding Academy Sports + Outdoors’ products to its marketplace, enabling same-day delivery—potentially in as little as one hour—across sporting goods, outdoor equipment, apparel, footwear and private-label brands. The agreement broadens CART beyond groceries, could increase order volume and customer engagement, and offers products without markups. Instacart and Academy Sports + Outdoors Team Up for Same-Day Delivery in as Fast as an Hour
• Positive Sentiment: Analyst sentiment improved: BNP Paribas Exane upgraded Maplebear, adding to the bullish tone around the stock. Multiple analysts also raised their price targets to $54, $62, $63, $65 and $77, signaling greater confidence in CART’s growth prospects and valuation. Maplebear Upgraded at BNP Paribas Exane Maplebear Price Target Raised to $63.00 Maplebear Price Target Raised to $62.00 Maplebear Price Target Raised to $54.00 Maplebear Price Target Raised to $65.00 Maplebear Price Target Raised to $63.00 Maplebear Price Target Raised to $77.00
• Neutral Sentiment: International expansion: A new European partnership highlights Instacart’s efforts to expand outside North America, which could create longer-term growth opportunities but also introduces execution and competitive risks. Why Is Maplebear Pushing Further Into Europe Through A New Partnership?
• Neutral Sentiment: Mixed valuation signals: One analyst raised CART’s target to $46, below the stock’s opening price, while Wells Fargo maintained a Hold rating. These actions temper the otherwise positive analyst momentum and suggest some investors remain cautious about valuation. Maplebear Price Target Raised to $46.00 Wells Fargo Sticks to Its Hold Rating for Maplebear

Maplebear Company Profile

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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