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

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

CART has been the subject of several other reports. JPMorgan Chase & Co. increased their price target on Maplebear from $35.00 to $45.00 and gave the company an overweight rating in a report on Monday, March 25th. Sanford C. Bernstein upgraded Maplebear from a market perform rating to an outperform rating and raised their target price for the company from $30.00 to $43.00 in a report on Thursday, March 14th. Wolfe Research upped their price target on Maplebear from $35.00 to $39.00 and gave the stock an outperform rating in a report on Tuesday, March 5th. Needham & Company LLC reiterated a hold rating on shares of Maplebear in a research note on Tuesday, April 23rd. Finally, BMO Capital Markets assumed coverage on shares of Maplebear in a research note on Tuesday, January 9th. They issued a market perform rating and a $26.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $38.79.

Maplebear Stock Performance

Maplebear stock opened at $34.48 on Monday. Maplebear has a 12 month low of $22.13 and a 12 month high of $42.95. The stock’s 50-day moving average is $35.33 and its 200-day moving average is $28.62.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.52. The business had revenue of $803.00 million during the quarter, compared to analysts’ expectations of $804.62 million. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts expect that Maplebear will post 0.53 EPS for the current year.

Insiders Place Their Bets

In other Maplebear news, Director Jeffrey D. Jordan sold 760,479 shares of Maplebear stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $26.01, for a total value of $19,780,058.79. Following the completion of the transaction, the director now directly owns 20,783 shares in the company, valued at $540,565.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Maplebear news, Director Jeffrey D. Jordan sold 760,479 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $26.01, for a total value of $19,780,058.79. Following the sale, the director now directly owns 20,783 shares in the company, valued at $540,565.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of the stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average price of $27.90 per share, with a total value of $28,923,455.70. Following the transaction, the insider now directly owns 1,036,683 shares of the company’s stock, valued at approximately $28,923,455.70. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 2,157,745 shares of company stock valued at $61,771,955 and have sold 1,027,279 shares valued at $29,422,416. 4.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Maplebear

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC acquired a new stake in Maplebear in the 3rd quarter valued at approximately $30,000. Parallel Advisors LLC boosted its position in Maplebear by 139.3% during the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after acquiring an additional 620 shares during the period. Cantor Fitzgerald L. P. grew its stake in shares of Maplebear by 389.5% in the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after purchasing an additional 2,489 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Maplebear during the fourth quarter valued at $69,000. Finally, Amalgamated Bank bought a new stake in shares of Maplebear during the fourth quarter valued at about $94,000. Institutional investors own 63.09% of the company’s stock.

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.