Maplebear (NASDAQ:CART) Shares Gap Down - What's Next?

Key Points

• Maplebear (Instacart) shares opened sharply lower, gapping down from $47.35 to $43.07 and last trading around $44.06.
• Analyst sentiment remains generally positive, with a Moderate Buy consensus and an average price target of $51.09, though opinions are mixed across firms.
• The company’s latest earnings beat revenue expectations but missed EPS estimates by $0.01, while recent insider selling included a large sale by Director Ravi Gupta.

Maplebear Inc. (NASDAQ:CART - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $47.35, but opened at $43.07. Maplebear shares last traded at $44.0580, with a volume of 1,083,345 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Argus raised shares of Maplebear to a "strong-buy" rating in a research note on Thursday, March 5th. Needham & Company LLC restated a "buy" rating and issued a $55.00 price objective on shares of Maplebear in a research report on Thursday, May 7th. Weiss Ratings raised Maplebear from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Wells Fargo & Company increased their price objective on Maplebear from $45.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, May 7th. Finally, Barclays boosted their target price on Maplebear from $65.00 to $69.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Maplebear presently has an average rating of "Moderate Buy" and a consensus target price of $51.09.

Maplebear Price Performance

The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 0.65 and a beta of 0.88. The business has a 50 day simple moving average of $42.21 and a 200-day simple moving average of $40.46.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 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 analyst estimates of $1.01 billion. During the same period in the prior year, the business earned $0.37 EPS. The company's revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, equities analysts predict that Maplebear Inc. will post 2.45 earnings per share for the current year.

Insider Buying and Selling

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the firm's 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of Maplebear stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the transaction, the chief accounting officer directly owned 58,971 shares in the company, valued at approximately $2,373,582.75. The trade was a 13.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 24.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Maplebear

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CART. Allworth Financial LP raised its position in Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company's stock valued at $34,000 after buying an additional 244 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Maplebear by 9.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company's stock worth $134,000 after acquiring an additional 261 shares in the last quarter. Rafferty Asset Management LLC grew its stake 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 worth $498,000 after acquiring an additional 273 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Maplebear by 5.0% in the third quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company's stock valued at $236,000 after purchasing an additional 304 shares during the last quarter. Finally, Aviva PLC raised its holdings in shares of Maplebear by 3.9% in the fourth quarter. Aviva PLC now owns 11,279 shares of the company's stock valued at $507,000 after purchasing an additional 424 shares during the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

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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