Maplebear (NASDAQ:CART) Price Target Raised to $48.00 at Oppenheimer

Maplebear (NASDAQ:CART - Free Report) had its price target increased by Oppenheimer from $36.00 to $48.00 in a report released on Monday, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also weighed in on CART. Needham & Company LLC reiterated a hold rating on shares of Maplebear in a report on Tuesday, April 23rd. Fox Advisors cut Maplebear from an overweight rating to an equal weight rating in a research note on Monday, April 1st. Barclays upped their target price on Maplebear from $40.00 to $41.00 and gave the stock an overweight rating in a research report on Wednesday, February 14th. Sanford C. Bernstein raised shares of Maplebear from a market perform rating to an outperform rating and lifted their price target for the company from $30.00 to $43.00 in a research report on Thursday, March 14th. Finally, BMO Capital Markets assumed coverage on shares of Maplebear in a report on Tuesday, January 9th. They set a market perform rating and a $26.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $38.79.

Maplebear Trading Down 0.6 %

NASDAQ CART traded down $0.21 during trading hours on Monday, hitting $34.48. 4,067,048 shares of the company's stock were exchanged, compared to its average volume of 4,060,263. The stock has a 50-day simple moving average of $35.33 and a 200 day simple moving average of $28.62. Maplebear has a 1-year low of $22.13 and a 1-year high of $42.95.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.52. The company had revenue of $803.00 million for the quarter, compared to analyst estimates of $804.62 million. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts expect that Maplebear will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Nick Giovanni sold 900 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $35.00, for a total transaction of $31,500.00. Following the completion of the transaction, the chief financial officer now directly owns 591,077 shares of the company's stock, valued at approximately $20,687,695. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jeffrey D. Jordan sold 760,479 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $26.01, for a total transaction of $19,780,058.79. Following the sale, the director now directly owns 20,783 shares in the company, valued at approximately $540,565.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Nick Giovanni sold 900 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $35.00, for a total value of $31,500.00. Following the sale, the chief financial officer now owns 591,077 shares in the company, valued at approximately $20,687,695. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 2,157,745 shares of company stock valued at $61,771,955 and have sold 1,027,279 shares valued at $29,422,416. Insiders own 4.02% of the company's stock.

Hedge Funds Weigh In On Maplebear

A number of large investors have recently modified their holdings of CART. Parallel Advisors LLC lifted its stake in Maplebear by 139.3% in the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company's stock worth $25,000 after purchasing an additional 620 shares in the last quarter. Signaturefd LLC purchased a new stake in shares of Maplebear in the third quarter worth $30,000. Cantor Fitzgerald L. P. boosted its stake in Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company's stock valued at $43,000 after buying an additional 2,489 shares during the period. Kapitalo Investimentos Ltda purchased a new position in Maplebear during the fourth quarter worth about $69,000. Finally, Amalgamated Bank purchased a new stake in shares of Maplebear in the 4th quarter valued at about $94,000. 63.09% of the stock is currently owned by institutional investors.

About Maplebear

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.