Maplebear (NASDAQ:CART) Price Target Raised to $40.00 at Morgan Stanley

Maplebear (NASDAQ:CART) had its price target hoisted by investment analysts at Morgan Stanley from $28.00 to $40.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 6.61% from the stock’s previous close.

Several other research firms have also issued reports on CART. Sanford C. Bernstein raised Maplebear from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $30.00 to $43.00 in a report on Thursday, March 14th. Needham & Company LLC reissued a “hold” rating on shares of Maplebear in a report on Tuesday, April 23rd. Loop Capital assumed coverage on shares of Maplebear in a research report on Friday, April 19th. They set a “buy” rating and a $46.00 price target on the stock. Macquarie began coverage on shares of Maplebear in a research report on Monday, March 25th. They set an “outperform” rating and a $42.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on Maplebear from $35.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.42.

Maplebear Trading Up 2.7 %

CART stock opened at $37.52 on Monday. The business’s fifty day moving average price is $35.93 and its two-hundred day moving average price is $29.00. Maplebear has a fifty-two week low of $22.13 and a fifty-two week high of $42.95.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.52. The business had revenue of $803.00 million during the quarter, compared to the consensus estimate of $804.62 million. Maplebear’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts predict that Maplebear will post 0.53 EPS for the current fiscal year.

Insider Transactions at Maplebear

In related 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 transaction of $19,780,058.79. Following the completion of the transaction, the director now directly owns 20,783 shares of the company’s stock, valued at approximately $540,565.83. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Alan Ramsay sold 12,178 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $34.90, for a total value of $425,012.20. Following the transaction, the chief accounting officer now owns 118,142 shares in the company, valued at approximately $4,123,155.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey D. Jordan sold 760,479 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 20,783 shares in the company, valued at $540,565.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 2,157,745 shares of company stock worth $61,771,955 and have sold 1,055,899 shares worth $30,422,265. 36.00% of the stock is owned by company insiders.

Institutional Trading of Maplebear

A number of large investors have recently bought and sold shares of the business. Signaturefd LLC bought a new stake in shares of Maplebear during the 3rd quarter valued at about $30,000. Parallel Advisors LLC lifted its stake in Maplebear by 139.3% in the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after buying an additional 620 shares during the period. Cantor Fitzgerald L. P. boosted its holdings in shares of Maplebear by 389.5% during the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after buying an additional 2,489 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Maplebear in the fourth quarter worth $69,000. Finally, Amalgamated Bank bought a new stake in Maplebear in the fourth quarter valued at $94,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Company Profile

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.