Maplebear Inc. (NASDAQ:CART) Given Consensus Rating of “Moderate Buy” by Brokerages

Maplebear Inc. (NASDAQ:CART) has earned an average recommendation of “Moderate Buy” from the twenty-four research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $51.6667.

A number of brokerages have recently issued reports on CART. Guggenheim increased their target price on Maplebear from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Wells Fargo & Company upped their price objective on Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Wedbush started coverage on Maplebear in a research report on Thursday, July 16th. They issued an “outperform” rating and a $59.00 price objective for the company. Raymond James Financial raised Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. Finally, Barclays boosted their target price on shares of Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th.

Insider Activity at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the sale, the director owned 741,523 shares in the company, valued at $30,780,619.73. This trade represents a 19.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 24.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CART. Pinnacle Bancorp Inc. acquired a new stake in shares of Maplebear during the 1st quarter valued at approximately $25,000. PenderFund Capital Management Ltd. acquired a new stake in shares of Maplebear in the 4th quarter worth approximately $27,000. 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 purchasing an additional 244 shares in the last quarter. 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 purchasing an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in Maplebear by 212.7% during the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after purchasing an additional 787 shares during the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Down 0.7%

Shares of NASDAQ:CART opened at $45.35 on Thursday. The company has a market cap of $10.66 billion, a P/E ratio of 25.34, a PEG ratio of 0.62 and a beta of 0.78. Maplebear has a 52 week low of $32.73 and a 52 week high of $53.50. The company has a 50-day moving average price of $44.66 and a 200 day moving average price of $40.78.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the firm posted $0.37 EPS. Maplebear’s revenue for the quarter was up 13.6% compared to the same quarter last year. Analysts expect that Maplebear will post 2.47 EPS for the current year.

Maplebear Company Profile

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.