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

Shares of Maplebear Inc. (NASDAQ:CART) have been given a consensus rating of “Moderate Buy” by the twenty-four analysts that are currently covering the company, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $55.5238.

A number of research analysts recently issued reports on the stock. Wall Street Zen cut shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. upped their target price on Maplebear from $55.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Citigroup raised their target price on Maplebear from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday. Needham & Company LLC lifted their price target on Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Maplebear in a report on Friday, August 7th.

Maplebear Stock Down 1.9%

CART opened at $48.45 on Thursday. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 0.73 and a beta of 0.78. Maplebear has a twelve month low of $32.73 and a twelve month high of $51.06. The company has a 50-day simple moving average of $45.48 and a 200 day simple moving average of $41.13.

Maplebear (NASDAQ:CART) last released its earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Maplebear had a net margin of 11.97% and a return on equity of 20.19%. Maplebear’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. Sell-side analysts anticipate that Maplebear will post 2.33 EPS for the current fiscal year.

Insider Transactions at Maplebear

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of Maplebear 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 transaction, the director owned 741,523 shares in the company, valued at $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 24.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Maplebear

Hedge funds have recently made changes to their positions in the stock. Greenland Capital Management LP bought a new stake in shares of Maplebear during the 2nd quarter valued at approximately $208,000. Pinnbrook Capital Management LP bought a new position in Maplebear in the 2nd quarter valued at approximately $2,500,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Maplebear in the second quarter valued at approximately $412,000. William Blair Investment Management LLC acquired a new stake in Maplebear in the second quarter valued at approximately $86,462,000. Finally, Ieq Capital LLC bought a new stake in shares of Maplebear during the second quarter worth $4,860,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

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.