Maplebear (NASDAQ:CART) Downgraded to “Hold” Rating by Wall Street Zen

Maplebear (NASDAQ:CART) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Several other analysts have also weighed in on CART. Mizuho started coverage on Maplebear in a report on Tuesday, September 30th. They issued a “neutral” rating and a $45.00 price objective for the company. Robert W. Baird lowered their price target on Maplebear from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Needham & Company LLC dropped their price target on Maplebear from $66.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Argus started coverage on shares of Maplebear in a report on Wednesday, January 7th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Jefferies Financial Group boosted their target price on shares of Maplebear from $41.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $51.73.

Maplebear Price Performance

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

Maplebear (NASDAQ:CART) last announced 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 firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. On average, equities research analysts forecast that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Maplebear

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP boosted its holdings in Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after buying an additional 244 shares in the last quarter. Securian Asset Management Inc. increased its holdings in shares of Maplebear by 2.1% in the second quarter. Securian Asset Management Inc. now owns 12,509 shares of the company’s stock valued at $566,000 after buying an additional 252 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Maplebear by 9.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock valued at $134,000 after acquiring an additional 261 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Maplebear by 2.5% during the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after acquiring an additional 273 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Maplebear by 5.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock worth $236,000 after acquiring an additional 304 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors.

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.