Maplebear (NASDAQ:CART) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Maplebear (NASDAQ:CART) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Several other analysts also recently weighed in on CART. Weiss Ratings upgraded Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Barclays raised their price objective on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Jefferies Financial Group raised Maplebear from a “hold” rating to a “buy” rating and lifted their target price for the stock from $38.00 to $45.00 in a report on Monday, March 30th. Wedbush began coverage on Maplebear in a research report on Thursday, July 16th. They issued an “outperform” rating and a $59.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on shares of Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Maplebear presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.48.

Maplebear Trading Up 2.0%

NASDAQ CART opened at $46.75 on Friday. Maplebear has a 12-month low of $32.73 and a 12-month high of $53.50. The company has a fifty day simple moving average of $43.62 and a two-hundred day simple moving average of $40.63. The stock has a market cap of $10.99 billion, a P/E ratio of 26.12, a P/E/G ratio of 0.63 and a beta of 0.75.

Maplebear (NASDAQ:CART) last released its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. Maplebear’s revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 earnings per share. As a group, sell-side analysts forecast that Maplebear will post 2.46 earnings per share for the current year.

Insider Buying and Selling at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the transaction, the director owned 741,523 shares of the company’s stock, valued at $30,780,619.73. The trade was a 19.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 24.00% of the company’s stock.

Institutional Trading of Maplebear

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in Maplebear by 49.2% during the second quarter. GAMMA Investing LLC now owns 4,297 shares of the company’s stock valued at $203,000 after acquiring an additional 1,417 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Maplebear by 94.7% in the second quarter. Versant Capital Management Inc now owns 1,215 shares of the company’s stock valued at $58,000 after acquiring an additional 591 shares during the period. Pacer Advisors Inc. boosted its position in Maplebear by 21.5% in the 1st quarter. Pacer Advisors Inc. now owns 1,370,619 shares of the company’s stock worth $51,343,000 after purchasing an additional 242,468 shares in the last quarter. Liontrust Investment Partners LLP boosted its position in Maplebear by 40.5% in the 1st quarter. Liontrust Investment Partners LLP now owns 219,822 shares of the company’s stock worth $8,235,000 after purchasing an additional 63,415 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Maplebear by 16.5% during the 1st quarter. Bank of America Corp DE now owns 1,562,097 shares of the company’s stock worth $58,516,000 after purchasing an additional 221,036 shares during the period. 63.09% of the stock is owned by institutional investors and hedge funds.

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.