Maplebear (NASDAQ:CART) Price Target Raised to $55.00

Key Points

• Stifel Nicolaus has raised its price target for Maplebear (NASDAQ:CART) from $54.00 to $55.00, suggesting a potential upside of 15.66% from the company's previous close.
• Overall, the stock has received 15 buy ratings, 11 hold ratings, and 1 strong buy rating from analysts, indicating a consensus rating of Moderate Buy.
• Recent quarterly earnings showed a net margin of 12.45% and a revenue increase of 9.4% year-over-year, although EPS of $0.37 fell short of the consensus estimate.

Maplebear (NASDAQ:CART - Get Free Report) had its price target lifted by equities research analysts at Stifel Nicolaus from $54.00 to $55.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price target would indicate a potential upside of 17.37% from the stock's current price.

Several other equities analysts have also recently commented on CART. JPMorgan Chase & Co. reduced their price target on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Sanford C. Bernstein raised their target price on Maplebear from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Barclays raised their target price on Maplebear from $58.00 to $61.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Wall Street Zen cut Maplebear from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, JMP Securities reissued a "market outperform" rating and set a $55.00 target price on shares of Maplebear in a research note on Thursday, June 12th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Maplebear has a consensus rating of "Moderate Buy" and an average target price of $52.35.

Maplebear Stock Up 0.2%

Shares of Maplebear stock traded up $0.09 on Tuesday, hitting $46.86. 4,158,977 shares of the company were exchanged, compared to its average volume of 3,061,986. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of 30.83, a price-to-earnings-growth ratio of 1.81 and a beta of 1.21. Maplebear has a 1-year low of $29.84 and a 1-year high of $53.44. The company has a 50-day moving average price of $46.43 and a 200 day moving average price of $44.56.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). Maplebear had a net margin of 12.45% and a return on equity of 14.12%. The company had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. During the same quarter in the prior year, the company earned $0.43 EPS. The business's revenue was up 9.4% on a year-over-year basis. Research analysts forecast that Maplebear will post 1.43 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Morgan Fong sold 4,680 shares of Maplebear stock in a transaction on Monday, July 21st. The shares were sold at an average price of $49.16, for a total value of $230,068.80. Following the completion of the sale, the general counsel owned 452,000 shares of the company's stock, valued at approximately $22,220,320. The trade was a 1.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Danker sold 10,037 shares of the business's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $48.82, for a total transaction of $490,006.34. Following the transaction, the insider directly owned 470,190 shares of the company's stock, valued at approximately $22,954,675.80. This represents a 2.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,975,327 shares of company stock valued at $237,736,848 over the last quarter. 26.00% of the stock is owned by insiders.

Institutional Trading of Maplebear

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CART. Proathlete Wealth Management LLC bought a new stake in Maplebear in the first quarter valued at about $26,000. NewEdge Advisors LLC grew its stake in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after buying an additional 717 shares during the last quarter. UMB Bank n.a. grew its stake in Maplebear by 914.1% during the first quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock worth $40,000 after buying an additional 905 shares during the last quarter. Brooklyn Investment Group bought a new stake in Maplebear during the first quarter worth about $40,000. Finally, Spire Wealth Management bought a new stake in Maplebear during the first quarter worth about $41,000. Institutional investors own 63.09% of the company's stock.

Maplebear Company Profile

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.