Maplebear (NASDAQ:CART) Price Target Lowered to $53.00 at Benchmark

Maplebear (NASDAQ:CART) had its price objective decreased by Benchmark from $60.00 to $53.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Benchmark currently has a buy rating on the stock.

CART has been the topic of several other reports. Needham & Company LLC dropped their target price on Maplebear from $66.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. BMO Capital Markets raised shares of Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research report on Tuesday, November 11th. Jefferies Financial Group lifted their price objective 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. Wall Street Zen cut shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Sunday, January 18th. Finally, Stifel Nicolaus lowered their price target on shares of Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, January 27th. Fifteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.35.

Maplebear Trading Down 1.5%

Shares of Maplebear stock opened at $34.62 on Tuesday. The company has a fifty day moving average price of $41.74 and a 200 day moving average price of $42.05. Maplebear has a twelve month low of $34.15 and a twelve month high of $53.50. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 0.90 and a beta of 1.00.

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

Insider Buying and Selling at Maplebear

In related news, General Counsel Morgan Fong sold 4,914 shares of Maplebear stock in a transaction on 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 owned 404,940 shares in the company, valued at approximately $18,307,337.40. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 26.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CART. Hantz Financial Services Inc. raised its stake in shares of Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares in the last quarter. Allworth Financial LP increased its holdings in Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after buying an additional 244 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in Maplebear in the third quarter valued at about $43,000. IFP Advisors Inc raised its stake in Maplebear by 761.3% during the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after buying an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after buying an additional 787 shares during the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

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.