Analysts Set Maplebear Inc. (NASDAQ:CART) Price Target at $51.04

Maplebear Inc. (NASDAQ:CART) has been assigned an average rating of “Hold” from the twenty-seven research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $51.04.

A number of research firms have recently issued reports on CART. Needham & Company LLC boosted their price target on shares of Maplebear from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 13th. Stifel Nicolaus decreased their price objective on shares of Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Cantor Fitzgerald lifted their price objective on shares of Maplebear from $45.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. 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. Finally, Benchmark reduced their target price on Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, February 10th.

Maplebear Trading Down 2.9%

NASDAQ CART opened at $36.87 on Monday. Maplebear has a 1 year low of $32.73 and a 1 year high of $53.50. The company has a market cap of $8.87 billion, a PE ratio of 23.19, a PEG ratio of 0.58 and a beta of 0.98. The stock’s 50-day moving average price is $38.26 and its two-hundred day moving average price is $40.54.

Insiders Place Their Bets

In related news, General Counsel Morgan Fong sold 4,914 shares of the stock in a transaction dated Monday, December 22nd. The stock was 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 is accessible through this hyperlink. Insiders own 26.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

Institutional investors and hedge funds have recently bought and sold shares of the business. PenderFund Capital Management Ltd. purchased a new stake in shares of Maplebear in the fourth quarter worth approximately $27,000. Hantz Financial Services Inc. grew its position in 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 purchasing an additional 389 shares in the last quarter. Allworth Financial LP increased its stake in Maplebear by 35.7% in the 3rd 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 period. IFP Advisors Inc increased its stake in Maplebear by 761.3% in the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after buying an additional 845 shares during the period. Finally, Sunbelt Securities Inc. lifted its position in Maplebear by 212.7% in 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 in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

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.