Maplebear Inc. (NASDAQ:CART) Receives $55.71 Consensus PT from Analysts

Shares of Maplebear Inc. (NASDAQ:CART) have earned a consensus recommendation of “Moderate Buy” from the twenty-six ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, sixteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $55.5833.

Several equities research analysts have recently weighed in on CART shares. Sanford C. Bernstein increased their price objective on shares of Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. BTIG Research cut their target price on shares of Maplebear from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday. Jefferies Financial Group increased their target price on shares of Maplebear from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Monday, August 11th. Robert W. Baird cut their target price on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, August 22nd. Finally, Barclays increased their target price on shares of Maplebear from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th.

Insider Activity at Maplebear

In related news, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $47.75, for a total transaction of $232,268,988.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Daniel Danker sold 10,037 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $48.82, for a total transaction of $490,006.34. Following the transaction, the insider directly owned 470,190 shares in the company, valued at approximately $22,954,675.80. This represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,978,242 shares of company stock valued at $237,874,094 in the last ninety days. Insiders own 26.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CART. Proathlete Wealth Management LLC bought a new position in shares of Maplebear in the first quarter valued at $26,000. UMB Bank n.a. lifted its stake in shares of 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 buying an additional 905 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Maplebear in the first quarter valued at $40,000. Spire Wealth Management bought a new position in shares of Maplebear in the first quarter valued at $41,000. Finally, CWM LLC lifted its stake in shares of Maplebear by 35.1% in the first quarter. CWM LLC now owns 1,058 shares of the company’s stock valued at $42,000 after buying an additional 275 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

Maplebear Stock Down 1.9%

CART opened at $44.88 on Monday. Maplebear has a twelve month low of $35.14 and a twelve month high of $53.50. The company has a fifty day moving average of $46.65 and a 200-day moving average of $44.11. The stock has a market cap of $11.82 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.53 and a beta of 1.21.

Maplebear (NASDAQ:CART) last posted 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. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The company had revenue of $914.00 million during the quarter, compared to analysts’ expectations of $896.55 million. During the same period in the prior year, the company posted $0.20 earnings per share. Maplebear’s revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate 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.