Maplebear Inc. (NASDAQ:CART) Stock Has Average Price Target of $56.14 According to Analysts

Maplebear Inc. (NASDAQ:CART) has been assigned a consensus rating of “Moderate Buy” from the twenty-four brokerages that are currently covering the firm, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $56.14.

Several analysts have recently weighed in on CART shares. Barclays upped their price objective on Maplebear from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Benchmark boosted their price target on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Citizens Jmp reissued a “market outperform” rating and issued a $60.00 price target on shares of Maplebear in a report on Monday, June 15th. Wells Fargo & Company raised their price objective on shares of Maplebear from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Finally, Wedbush started coverage on shares of Maplebear in a research note on Thursday, July 16th. They issued an “outperform” rating and a $59.00 price objective on the stock.

Insider Buying and Selling

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 3,017 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $47.08, for a total value of $142,040.36. Following the transaction, the chief accounting officer owned 37,715 shares of the company’s stock, valued at approximately $1,775,622.20. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Morgan Fong sold 18,390 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $44.98, for a total value of $827,182.20. Following the sale, the insider owned 529,911 shares of the company’s stock, valued at $23,835,396.78. This trade represents a 3.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 189,797 shares of company stock worth $9,479,487. Corporate insiders own 24.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

A number of hedge funds have recently modified their holdings of CART. BlackRock Inc. purchased a new stake in shares of Maplebear during the second quarter valued at $750,477,000. Dimensional Fund Advisors LP increased its stake in Maplebear by 31.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company’s stock worth $186,618,000 after purchasing an additional 1,189,287 shares in the last quarter. Geode Capital Management LLC raised its holdings in Maplebear by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company’s stock worth $158,640,000 after buying an additional 54,010 shares during the period. Norges Bank acquired a new stake in Maplebear during the 4th quarter worth about $97,221,000. Finally, William Blair Investment Management LLC purchased a new stake in Maplebear during the second quarter valued at about $86,462,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Price Performance

Shares of NASDAQ:CART opened at $43.26 on Friday. The stock has a market cap of $10.01 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 0.86 and a beta of 0.80. Maplebear has a 12 month low of $32.73 and a 12 month high of $52.68. The stock’s 50 day moving average price is $47.64 and its 200 day moving average price is $43.77.

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

Trending Headlines about Maplebear

Here are the key news stories impacting Maplebear this week:

• Positive Sentiment: Expanded delivery network: Maplebear is expanding same-day delivery to approximately 20,000 stores, potentially increasing order volume, customer reach and marketplace revenue. Maplebear Expands Same Day Delivery To 20,000 Stores
• Positive Sentiment: Dollar General partnership: Instacart and Dollar General announced same-day delivery of everyday essentials through the Instacart app and website. The agreement broadens Maplebear’s retail presence beyond traditional grocery and could support transaction growth. Instacart and Dollar General Partner to Deliver Everyday Essentials
• Positive Sentiment: Additional AI distribution channel: Instacart has partnered with Meta’s AI shopping agent, Muse. The relationship could help expose Instacart’s fulfillment network to more shoppers and preserve its role in AI-enabled commerce. Instacart Adds Another AI Partner to the List: Meta’s Muse
• Neutral Sentiment: Short-interest data: A report listed short interest at zero shares and a zero-day days-to-cover ratio. If accurate, this indicates limited reported short positioning, but the figure appears unusual and may have limited usefulness for assessing near-term trading pressure.
• Negative Sentiment: AI competition concerns: Meta’s Muse is raising questions about whether AI shopping agents could eventually reduce consumers’ reliance on Instacart’s app and weaken its position as the customer interface for online grocery orders. Meta’s Muse Puts Instacart’s Grocery Empire on Notice
• Negative Sentiment: Insider selling: Morgan Fong sold 18,390 shares worth approximately $827,000, reducing the position by 3.35%. The sale occurred under a pre-arranged Rule 10b5-1 plan, making it a relatively weak bearish signal, but it may still add modest selling-pressure concerns. Maplebear Insider Sale SEC Filing

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, operates an online grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can browse products from participating grocery stores, place orders for delivery or pickup, and receive updates throughout the shopping and fulfillment process.

The company provides retailers with technology and services supporting e-commerce, fulfillment, customer engagement and digital advertising.