Maplebear Inc. (NASDAQ:CART) Receives Consensus Rating of “Hold” from Analysts

Maplebear Inc. (NASDAQ:CART) has been assigned a consensus rating of “Hold” from the twenty-eight ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and fifteen have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $51.3846.

A number of equities research analysts have recently commented on the stock. BNP Paribas Exane started coverage on shares of Maplebear in a research note on Wednesday, January 14th. They set an “underperform” rating and a $41.00 price objective on the stock. Cantor Fitzgerald raised their price target on shares of Maplebear from $45.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. cut their price objective 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. Weiss Ratings reissued a “hold (c)” rating on shares of Maplebear in a research note on Monday, December 29th. Finally, Argus assumed coverage on Maplebear in a research report on Wednesday, January 7th. They set a “buy” rating and a $52.00 target price on the stock.

Maplebear Stock Down 1.1%

Maplebear stock opened at $36.31 on Thursday. The business’s 50-day moving average price is $40.69 and its 200 day moving average price is $41.58. The firm has a market cap of $9.53 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 0.57 and a beta of 1.00. Maplebear has a 52 week low of $32.73 and a 52 week high of $53.50.

Insider Buying and Selling

In other news, General Counsel Morgan Fong sold 4,914 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $45.21, for a total value of $222,161.94. Following the completion of the sale, the general counsel directly owned 404,940 shares in the company, valued at $18,307,337.40. The trade was 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 link. Insiders own 26.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

A number of institutional investors have recently added to or reduced their stakes in the stock. Viking Global Investors LP purchased a new stake in Maplebear during the 2nd quarter valued at about $169,782,000. William Blair Investment Management LLC acquired a new position in shares of Maplebear during the 2nd quarter worth approximately $151,364,000. Marshall Wace LLP purchased a new stake in shares of Maplebear in the fourth quarter valued at approximately $126,206,000. Holocene Advisors LP acquired a new stake in shares of Maplebear in the third quarter valued at approximately $90,167,000. Finally, Norges Bank acquired a new stake in shares of Maplebear in the fourth quarter valued at approximately $97,221,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

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.