Maplebear Inc. (NASDAQ:CART) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Maplebear Inc. (NASDAQ:CART) have earned a consensus recommendation of “Moderate Buy” from the thirty brokerages that are covering the firm, MarketBeat reports. Fourteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $50.25.

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $55.00 price objective on shares of Maplebear in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price target on shares of Maplebear from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company started coverage on shares of Maplebear in a report on Friday, January 10th. They issued an “equal weight” rating and a $47.00 price objective on the stock. Wedbush lowered their target price on Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, FBN Securities began coverage on Maplebear in a research note on Friday. They issued a “sector perform” rating and a $44.00 price target on the stock.

Maplebear Price Performance

NASDAQ CART opened at $39.73 on Monday. Maplebear has a 1-year low of $29.84 and a 1-year high of $53.44. The firm has a market capitalization of $10.51 billion, a P/E ratio of 26.66, a P/E/G ratio of 1.19 and a beta of 1.34. The business’s 50-day simple moving average is $44.59 and its 200-day simple moving average is $43.54.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. On average, equities research analysts expect that Maplebear will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fidji Simo sold 2,033 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now directly owns 1,654,559 shares in the company, valued at $66,182,360. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,097 shares of company stock worth $1,087,094 in the last quarter. 36.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Maplebear

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp grew its position in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after buying an additional 222 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Maplebear during the 3rd quarter worth approximately $33,000. Allworth Financial LP grew its holdings in Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares during the period. NewEdge Advisors LLC increased its stake in Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after purchasing an additional 717 shares in the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in Maplebear in the fourth quarter worth $46,000. 63.09% of the stock is owned by institutional investors.

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.