Maplebear (NASDAQ:CART) Price Target Raised to $64.00 at Stifel Nicolaus

Key Points

• Maplebear's price target was raised from $55.00 to $64.00 by Stifel Nicolaus, indicating a potential upside of 27.96% based on the current stock price.
• The company experienced a net margin of 12.45% and reported revenue of $914 million for the last quarter, surpassing analyst expectations.
• Insider trading shows significant activity, with 4,975,327 shares sold in the last quarter, amounting to nearly $238 million in value.

Maplebear (NASDAQ:CART - Get Free Report) had its price target lifted by analysts at Stifel Nicolaus from $55.00 to $64.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price target would suggest a potential upside of 24.98% from the stock's current price.

Several other analysts have also issued reports on CART. Loop Capital boosted their target price on shares of Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Robert W. Baird upped their price target on shares of Maplebear from $47.00 to $52.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Bank of America upped their price target on shares of Maplebear from $53.00 to $58.00 and gave the stock a "neutral" rating in a research report on Friday. Citigroup upped their price target on shares of Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Sanford C. Bernstein upped their price target on shares of Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Nine research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $55.13.

Maplebear Trading Up 3.7%

NASDAQ CART traded up $1.82 during trading hours on Friday, hitting $51.21. 13,083,511 shares of the company's stock traded hands, compared to its average volume of 3,516,849. The business's fifty day moving average price is $46.70 and its two-hundred day moving average price is $44.69. The firm has a market capitalization of $13.44 billion, a P/E ratio of 29.60, a P/E/G ratio of 1.98 and a beta of 1.21. Maplebear has a 52 week low of $31.15 and a 52 week high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $914.00 million during the quarter, compared to analyst estimates of $896.55 million. Maplebear had a net margin of 13.76% and a return on equity of 16.02%. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 earnings per share. On average, sell-side analysts expect that Maplebear will post 1.43 EPS for the current fiscal year.

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 4,680 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $49.16, for a total transaction of $230,068.80. Following the sale, the general counsel owned 452,000 shares of the company's stock, valued at $22,220,320. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Fidji Simo sold 6,640 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $50.00, for a total transaction of $332,000.00. Following the sale, the chief executive officer directly owned 1,958,805 shares in the company, valued at approximately $97,940,250. The trade was a 0.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,975,327 shares of company stock valued at $237,736,848 over the last quarter. 26.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maplebear

Hedge funds have recently bought and sold shares of the business. Aviva PLC purchased a new stake in shares of Maplebear in the fourth quarter valued at $597,000. Envestnet Asset Management Inc. raised its stake in shares of Maplebear by 35.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,628 shares of the company's stock valued at $564,000 after acquiring an additional 3,532 shares during the period. Cerity Partners LLC raised its stake in shares of Maplebear by 139.3% in the fourth quarter. Cerity Partners LLC now owns 84,704 shares of the company's stock valued at $3,508,000 after acquiring an additional 49,309 shares during the period. Invesco Ltd. raised its stake in shares of Maplebear by 11.6% in the fourth quarter. Invesco Ltd. now owns 1,410,922 shares of the company's stock valued at $58,440,000 after acquiring an additional 147,012 shares during the period. Finally, APG Asset Management N.V. purchased a new stake in shares of Maplebear in the fourth quarter valued at $4,492,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

About Maplebear

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.