Maplebear Inc. (NASDAQ:CART) Receives $51.73 Consensus PT from Brokerages

Shares of Maplebear Inc. (NASDAQ:CART) have been given a consensus recommendation of “Hold” by the thirty analysts that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $51.7308.

CART has been the topic of several recent research reports. BNP Paribas upgraded shares of Maplebear to a “strong sell” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. reduced their target price on shares of Maplebear from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Argus assumed coverage on shares of Maplebear in a research report on Wednesday, January 7th. They issued a “buy” rating and a $52.00 price target on the stock. BTIG Research reiterated a “neutral” rating and set a $55.00 price target on shares of Maplebear in a research note on Tuesday, September 30th. Finally, Fox Advisors lowered Maplebear from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 18th.

Insider Buying and Selling

In other news, General Counsel Morgan Fong sold 4,914 shares of the firm’s 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 transaction, the general counsel owned 404,940 shares of the company’s stock, valued at $18,307,337.40. This trade represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maplebear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its holdings 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 lifted its stake in shares of Maplebear by 35.7% during 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 in the last quarter. Sunbelt Securities Inc. boosted its holdings 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 during the period. Abich Financial Wealth Management LLC purchased a new stake in Maplebear in the 3rd quarter worth $43,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in Maplebear during the second quarter valued at about $53,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Price Performance

CART stock opened at $38.55 on Friday. Maplebear has a 1 year low of $34.78 and a 1 year high of $53.50. The company has a market cap of $10.12 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. The stock’s fifty day moving average price is $42.95 and its 200-day moving average price is $43.27.

Maplebear (NASDAQ:CART) last posted its earnings results on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $939.00 million for the quarter, compared to the consensus estimate of $933.76 million. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.Maplebear’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share. As a group, analysts expect that Maplebear will post 1.43 earnings per share for the current 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.