Analysts Set Maplebear Inc. (NASDAQ:CART) Price Target at $52.30

Maplebear Inc. (NASDAQ:CART) has been given a consensus recommendation of “Moderate Buy” by the twenty-six analysts that are currently covering the firm, MarketBeat.com reports. Ten research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $52.35.

CART has been the subject of several recent analyst reports. Robert W. Baird lifted their price target on Maplebear from $47.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Stifel Nicolaus boosted their target price on Maplebear from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday. Macquarie reissued an “outperform” rating and issued a $55.00 target price on shares of Maplebear in a research report on Tuesday, May 6th. Barclays boosted their target price on Maplebear from $58.00 to $61.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Finally, Jefferies Financial Group boosted their price target on Maplebear from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, May 27th.

Insider Buying and Selling at Maplebear

In other news, Director Levien Meredith A. Kopit sold 4,225 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total transaction of $200,476.25. Following the transaction, the director owned 20,829 shares of the company’s stock, valued at approximately $988,336.05. This represents a 16.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $47.75, for a total value of $232,268,988.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,975,327 shares of company stock worth $237,736,848. Insiders own 26.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

A number of hedge funds and other institutional investors have recently made changes to their positions in CART. Sentry Investment Management LLC bought a new stake in Maplebear during the second quarter valued at about $391,000. West Tower Group LLC bought a new stake in Maplebear during the second quarter valued at about $271,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Maplebear during the second quarter valued at about $3,103,000. William Blair Investment Management LLC bought a new stake in Maplebear during the second quarter valued at about $151,364,000. Finally, Applied Finance Capital Management LLC bought a new stake in Maplebear during the second quarter valued at about $291,000. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Down 1.0%

NASDAQ:CART opened at $46.77 on Friday. The stock has a market cap of $12.28 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 1.83 and a beta of 1.21. The firm’s fifty day simple moving average is $46.43 and its 200 day simple moving average is $44.55. Maplebear has a twelve month low of $29.84 and a twelve month high of $53.44.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $897.00 million for the quarter, compared to analysts’ expectations of $896.86 million. Maplebear had a net margin of 12.45% and a return on equity of 14.12%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 EPS. On average, analysts expect that Maplebear will post 1.43 EPS for the current fiscal year.

Maplebear Company Profile

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.