Maplebear Inc. (NASDAQ:CART) Receives $51.35 Average PT from Analysts

Shares of Maplebear Inc. (NASDAQ:CART) have earned a consensus rating of “Hold” from the twenty-eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and fifteen have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $51.3846.

Several equities analysts recently issued reports on CART shares. Fox Advisors lowered Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. BNP Paribas Exane started coverage on shares of Maplebear in a report on Wednesday, January 14th. They issued an “underperform” rating and a $41.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a report on Monday, December 29th. Cantor Fitzgerald increased their price target on shares of Maplebear from $45.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Finally, Argus began coverage on shares of Maplebear in a research report on Wednesday, January 7th. They issued a “buy” rating and a $52.00 price objective on the stock.

Insider Transactions at Maplebear

In other news, General Counsel Morgan Fong sold 4,914 shares of the firm’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 trade represents a 1.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 26.00% of the company’s stock.

Institutional Inflows and Outflows

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

Maplebear Price Performance

Shares of NASDAQ CART opened at $36.30 on Thursday. The stock has a market capitalization of $9.53 billion, a P/E ratio of 22.83, a PEG ratio of 0.94 and a beta of 1.00. Maplebear has a one year low of $32.73 and a one year high of $53.50. The firm’s 50 day simple moving average is $41.02 and its two-hundred day simple moving average is $41.69.

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.