Maplebear Inc. (NASDAQ:CART) Given Consensus Rating of “Hold” by Brokerages

Maplebear Inc. (NASDAQ:CART) has been assigned a consensus recommendation of “Hold” from the thirty research firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, fifteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $51.7308.

Several equities analysts have issued reports on CART shares. Jefferies Financial Group lifted their price objective on Maplebear from $41.00 to $48.00 and gave the company a “hold” rating in a research report on Thursday, December 11th. Piper Sandler cut Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price target for the company. in a report on Friday, October 3rd. Needham & Company LLC reduced their price target on shares of Maplebear from $66.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Stifel Nicolaus lowered their price objective on shares of Maplebear from $56.00 to $49.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Finally, Robert W. Baird dropped their target price on shares of Maplebear from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st.

Insider Transactions at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $45.21, for a total value of $222,161.94. Following the transaction, the general counsel directly owned 404,940 shares in the company, valued at approximately $18,307,337.40. This trade represents a 1.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 26.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Maplebear by 7.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,040,129 shares of the company’s stock valued at $47,055,000 after acquiring an additional 72,643 shares during the period. Champlain Investment Partners LLC increased its stake in Maplebear by 64.4% in the second 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 in the last quarter. Sentry Investment Management LLC acquired a new stake in Maplebear in the second quarter worth $391,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Maplebear by 261.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 99,868 shares of the company’s stock worth $4,518,000 after purchasing an additional 72,265 shares during the period. Finally, Norges Bank bought a new position in shares of Maplebear during the second quarter worth $97,351,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Down 1.0%

Shares of CART stock opened at $39.41 on Friday. The company has a market capitalization of $10.35 billion, a P/E ratio of 21.65, a P/E/G ratio of 1.01 and a beta of 0.97. Maplebear has a 12-month low of $34.78 and a 12-month high of $53.50. The firm has a 50-day moving average price of $42.92 and a 200 day moving average price of $43.41.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $939.00 million during the quarter, compared to analyst estimates of $933.76 million. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. As a group, research analysts expect that Maplebear will post 1.43 earnings per share for the current year.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.