Maplebear Inc. (NASDAQ:CART) Given Consensus Recommendation of “Hold” by Analysts

Maplebear Inc. (NASDAQ:CART) has been given a consensus recommendation of “Hold” by the twenty-eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $51.3462.

Several brokerages have recently commented on CART. Argus began coverage on Maplebear in a report on Wednesday, January 7th. They set a “buy” rating and a $52.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a research report on Monday, December 29th. Guggenheim initiated coverage on shares of Maplebear in a research report on Wednesday, October 15th. They set a “neutral” rating and a $40.00 price target for the company. Citigroup decreased their price objective on Maplebear from $65.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Finally, Stifel Nicolaus dropped their target price on Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, January 27th.

Insiders Place Their Bets

In related news, General Counsel Morgan Fong sold 4,914 shares of Maplebear stock in a transaction dated 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 transaction, the general counsel directly owned 404,940 shares of the company’s stock, valued at $18,307,337.40. This trade represents a 1.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 26.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Maplebear

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp grew its stake in shares of Maplebear by 1.3% in the second quarter. State Street Corp now owns 5,101,870 shares of the company’s stock worth $230,809,000 after acquiring an additional 66,588 shares during the period. Boston Partners boosted its holdings in Maplebear by 93.3% in the second quarter. Boston Partners now owns 3,961,838 shares of the company’s stock worth $179,261,000 after purchasing an additional 1,911,771 shares during the last quarter. Viking Global Investors LP bought a new stake in Maplebear in the 2nd quarter worth approximately $169,782,000. Geode Capital Management LLC raised its stake in Maplebear by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company’s stock valued at $158,640,000 after buying an additional 54,010 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Maplebear during the 2nd quarter valued at $151,364,000. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of CART stock opened at $32.93 on Thursday. Maplebear has a 52-week low of $32.73 and a 52-week high of $53.50. The company has a 50-day simple moving average of $41.54 and a two-hundred day simple moving average of $41.98. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 18.09, a PEG 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. The business had revenue of $939.00 million for the quarter, compared to the consensus estimate of $933.76 million. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. On average, sell-side analysts forecast that Maplebear will post 1.43 EPS for the current fiscal year.

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.