Maplebear (NASDAQ:CART) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Maplebear (NASDAQ:CART) had its price target lifted by Morgan Stanley from $45.00 to $48.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 9.29% from the company’s current price.

Other research analysts also recently issued research reports about the company. Barclays raised their price target on Maplebear from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Bank of America raised their target price on shares of Maplebear from $53.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Robert W. Baird lifted their target price on shares of Maplebear from $47.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. Loop Capital upped their price target on shares of Maplebear from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, May 19th. Finally, Benchmark upgraded shares of Maplebear from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Friday, August 8th. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.46.

Maplebear Stock Up 0.1%

Shares of CART opened at $43.92 on Friday. The company has a market capitalization of $11.57 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 1.46 and a beta of 1.21. Maplebear has a 52-week low of $31.92 and a 52-week high of $53.50. The stock has a 50 day moving average price of $46.80 and a 200 day moving average price of $44.71.

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

Insider Transactions at Maplebear

In other Maplebear news, insider Daniel Danker sold 10,037 shares of Maplebear stock in a transaction on Friday, July 18th. The shares were sold at an average price of $48.82, for a total value of $490,006.34. Following the transaction, the insider owned 470,190 shares in the company, valued at $22,954,675.80. This trade represents a 2.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value 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. This trade represents a 16.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,975,327 shares of company stock worth $237,736,848 in the last quarter. 26.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Maplebear

Several hedge funds and other institutional investors have recently modified their holdings of CART. Proathlete Wealth Management LLC purchased a new position in shares of Maplebear in the 1st quarter valued at $26,000. NewEdge Advisors LLC increased its holdings in Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after purchasing an additional 717 shares in the last quarter. UMB Bank n.a. raised its position in Maplebear by 914.1% in the first quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock valued at $40,000 after purchasing an additional 905 shares during the period. Brooklyn Investment Group acquired a new position in shares of Maplebear during the first quarter worth about $40,000. Finally, Spire Wealth Management acquired a new position in shares of Maplebear during the first quarter worth about $41,000. 63.09% of the stock is owned by institutional investors and hedge funds.

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.