Maplebear (NASDAQ:CART – Get Free Report) had its target price upped by research analysts at Robert W. Baird from $47.00 to $52.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 5.88% from the stock’s current price.
Several other equities analysts have also issued reports on CART. Wells Fargo & Company cut their price target on Maplebear from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Maplebear in a research report on Friday, May 2nd. Jefferies Financial Group boosted their target price on Maplebear from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, May 27th. Wall Street Zen cut Maplebear from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Finally, Loop Capital lifted their price target on Maplebear from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, May 19th. Eleven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Maplebear presently has a consensus rating of “Moderate Buy” and an average target price of $51.95.
Check Out Our Latest Research Report on CART
Maplebear Price Performance
Maplebear (NASDAQ:CART – Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The business had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. During the same quarter in the previous year, the company posted $0.43 EPS. Maplebear’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts expect that Maplebear will post 1.43 earnings per share for the current fiscal year.
Insider Transactions at Maplebear
In other Maplebear news, Director Levien Meredith A. Kopit sold 4,225 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $47.45, for a total transaction of $200,476.25. Following the completion of the transaction, the director directly owned 20,829 shares in the company, valued at $988,336.05. The trade was a 16.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Fidji Simo sold 14,233 shares of the firm’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $47.86, for a total value of $681,191.38. Following the completion of the sale, the chief executive officer directly owned 2,032,005 shares in the company, valued at $97,251,759.30. This trade represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,387 shares of company stock valued at $1,310,570. Company insiders own 26.00% of the company’s stock.
Institutional Investors Weigh In On Maplebear
Hedge funds and other institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its position in 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 purchasing an additional 222 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Maplebear in the 4th quarter valued at about $3,861,000. PNC Financial Services Group Inc. raised its position in shares of Maplebear by 243.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company’s stock worth $141,000 after purchasing an additional 2,409 shares during the period. Commonwealth Equity Services LLC acquired a new position in Maplebear during the fourth quarter worth $234,000. Finally, Parallel Advisors LLC lifted its position in Maplebear by 269.4% in the 4th quarter. Parallel Advisors LLC now owns 25,911 shares of the company’s stock valued at $1,073,000 after acquiring an additional 18,897 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.
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.
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