Jefferies Financial Group Raises Maplebear (NASDAQ:CART) Price Target to $55.00

Maplebear (NASDAQ:CART) had its target price raised by research analysts at Jefferies Financial Group from $50.00 to $55.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 7.89% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Macquarie restated an “outperform” rating and set a $55.00 target price on shares of Maplebear in a research report on Tuesday, May 6th. Stifel Nicolaus boosted their target price on Maplebear from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. JMP Securities boosted their target price on Maplebear from $55.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, August 8th. Bank of America boosted their target price on Maplebear from $53.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Finally, 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 note on Thursday, July 17th. Nine analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.33.

Maplebear Stock Down 1.5%

Maplebear stock opened at $50.98 on Monday. Maplebear has a 52 week low of $31.51 and a 52 week high of $53.50. The business has a 50-day simple moving average of $46.90 and a 200 day simple moving average of $44.77. The stock has a market cap of $13.43 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 1.75 and a beta of 1.21.

Maplebear (NASDAQ:CART) last posted its earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Maplebear had a return on equity of 15.69% and a net margin of 13.76%. The business had revenue of $914.00 million during the quarter, compared to analysts’ expectations of $896.55 million. During the same period in the previous year, the business earned $0.20 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. On average, research analysts anticipate that Maplebear will post 1.43 earnings per share for the current year.

Insider Activity at Maplebear

In related news, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $47.75, for a total transaction of $232,268,988.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Fidji Simo sold 66,560 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $50.01, for a total value of $3,328,665.60. Following the transaction, the chief executive officer owned 1,965,445 shares in the company, valued at approximately $98,291,904.45. This represents a 3.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,975,327 shares of company stock worth $237,736,848 over the last 90 days. 26.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Elo Mutual Pension Insurance Co increased its holdings in Maplebear by 60.9% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 44,730 shares of the company’s stock valued at $2,024,000 after purchasing an additional 16,926 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Maplebear by 19.6% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 3,072 shares of the company’s stock valued at $139,000 after purchasing an additional 503 shares during the period. Champlain Investment Partners LLC increased its holdings in Maplebear by 64.4% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,157,010 shares of the company’s stock valued at $97,583,000 after purchasing an additional 845,070 shares during the period. Jefferies Financial Group Inc. purchased a new position in Maplebear during the 2nd quarter valued at about $3,167,000. Finally, Prudential Financial Inc. grew its holdings in shares of Maplebear by 45.4% during the 2nd quarter. Prudential Financial Inc. now owns 21,381 shares of the company’s stock worth $967,000 after acquiring an additional 6,680 shares during the period. Hedge funds and other institutional investors own 63.09% of the company’s stock.

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.