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

Maplebear Inc. (NASDAQ:CARTGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the twenty-three ratings firms that are currently covering the firm, MarketBeat reports. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $41.05.

Several analysts have recently commented on the company. Stifel Nicolaus raised their target price on Maplebear from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Oppenheimer raised their target price on Maplebear from $36.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Fox Advisors cut Maplebear from an “overweight” rating to an “equal weight” rating in a research report on Monday, April 1st. Piper Sandler reiterated an “overweight” rating and set a $47.00 price objective (up from $45.00) on shares of Maplebear in a report on Thursday, May 9th. Finally, Sanford C. Bernstein upgraded Maplebear from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $30.00 to $43.00 in a report on Thursday, March 14th.

Check Out Our Latest Stock Report on Maplebear

Insider Transactions at Maplebear

In other news, General Counsel Morgan Fong sold 98,200 shares of Maplebear stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $34.32, for a total value of $3,370,224.00. Following the transaction, the general counsel now directly owns 283,068 shares in the company, valued at $9,714,893.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Alan Ramsay sold 2,550 shares of Maplebear stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $33.21, for a total value of $84,685.50. Following the transaction, the chief accounting officer now directly owns 113,086 shares in the company, valued at $3,755,586.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Morgan Fong sold 98,200 shares of Maplebear stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $34.32, for a total value of $3,370,224.00. Following the completion of the transaction, the general counsel now owns 283,068 shares in the company, valued at $9,714,893.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 307,198 shares of company stock worth $11,033,262. Company insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

A number of institutional investors have recently added to or reduced their stakes in the company. Renaissance Capital LLC grew its position in Maplebear by 4.3% during the first quarter. Renaissance Capital LLC now owns 14,692 shares of the company’s stock worth $548,000 after buying an additional 607 shares in the last quarter. Parallel Advisors LLC grew its position in Maplebear by 139.3% during the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after buying an additional 620 shares in the last quarter. Signaturefd LLC acquired a new stake in Maplebear during the third quarter worth about $30,000. Cantor Fitzgerald L. P. grew its position in Maplebear by 389.5% during the fourth 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. Finally, Kapitalo Investimentos Ltda acquired a new stake in Maplebear during the fourth quarter worth about $69,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Price Performance

CART opened at $32.37 on Tuesday. The business has a fifty day simple moving average of $35.92 and a 200-day simple moving average of $29.87. Maplebear has a fifty-two week low of $22.13 and a fifty-two week high of $42.95.

Maplebear (NASDAQ:CARTGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.04 by $0.39. The business had revenue of $820.00 million during the quarter, compared to analyst estimates of $794.08 million. The firm’s revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts expect that Maplebear will post 1.02 EPS for the current year.

Maplebear Company Profile

(Get Free Report

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.

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Analyst Recommendations for Maplebear (NASDAQ:CART)

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