Maplebear (NASDAQ:CART) Price Target Lowered to $46.00 at Stifel Nicolaus

Maplebear (NASDAQ:CART) had its price target cut by Stifel Nicolaus from $49.00 to $46.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently weighed in on CART. Argus began coverage on shares of Maplebear in a research note on Wednesday, January 7th. They issued a “buy” rating and a $52.00 target price on the stock. Wells Fargo & Company reduced their price objective on shares of Maplebear from $57.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Friday, October 3rd. Jefferies Financial Group raised their price objective on shares of Maplebear from $41.00 to $48.00 and gave the stock a “hold” rating in a research note on Thursday, December 11th. Needham & Company LLC cut their target price on Maplebear from $66.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Finally, Mizuho began coverage on Maplebear in a report on Tuesday, September 30th. They issued a “neutral” rating and a $45.00 price target on the stock. Fifteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $51.62.

Maplebear Price Performance

NASDAQ:CART opened at $37.96 on Tuesday. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 1.04 and a beta of 0.97. The business has a 50 day simple moving average of $42.81 and a 200-day simple moving average of $42.95. Maplebear has a 1 year low of $34.78 and a 1 year high of $53.50.

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

Insider Buying and Selling at Maplebear

In other news, General Counsel Morgan Fong sold 4,914 shares of Maplebear stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total transaction of $222,161.94. Following the completion of the sale, the general counsel owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 26.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Maplebear by 51.2% in the 1st quarter. Royal Bank of Canada now owns 131,789 shares of the company’s stock worth $5,256,000 after buying an additional 44,642 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Maplebear by 71.6% in the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock valued at $67,000 after acquiring an additional 698 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Maplebear by 358.5% in the first quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company’s stock worth $128,000 after acquiring an additional 2,502 shares during the period. Goldman Sachs Group Inc. increased its position in Maplebear by 17.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company’s stock valued at $15,585,000 after purchasing an additional 57,879 shares during the period. Finally, Empowered Funds LLC purchased a new position in Maplebear during the 1st quarter valued at about $268,000. 63.09% of the stock is currently owned by hedge funds and other 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.