Maplebear (NASDAQ:CART) Price Target Increased to $45.00 by Analysts at Morgan Stanley

Maplebear (NASDAQ:CART) had its price target increased by Morgan Stanley from $43.00 to $45.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other analysts also recently commented on CART. KeyCorp started coverage on Maplebear in a report on Thursday, July 11th. They set a sector weight rating for the company. Stifel Nicolaus increased their price target on Maplebear from $44.00 to $45.00 and gave the company a buy rating in a report on Thursday, May 9th. BMO Capital Markets increased their price target on Maplebear from $26.00 to $36.00 and gave the company a market perform rating in a report on Thursday, May 9th. Loop Capital increased their price target on Maplebear from $46.00 to $49.00 and gave the company a buy rating in a report on Thursday, May 16th. Finally, Macquarie started coverage on Maplebear in a report on Monday, March 25th. They issued an outperform rating and a $42.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $41.60.

Maplebear Price Performance

Shares of Maplebear stock opened at $34.32 on Tuesday. Maplebear has a fifty-two week low of $22.13 and a fifty-two week high of $42.95. The business’s fifty day moving average is $33.18 and its two-hundred day moving average is $32.49.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.39. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $794.08 million. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities analysts expect that Maplebear will post 1.02 EPS for the current year.

Insider Transactions at Maplebear

In other Maplebear news, CEO Fidji Simo sold 13,206 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $34.93, for a total value of $461,285.58. Following the transaction, the chief executive officer now owns 2,132,845 shares of the company’s stock, valued at $74,500,275.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Maplebear news, CEO Fidji Simo sold 13,206 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $34.93, for a total value of $461,285.58. Following the transaction, the chief executive officer now owns 2,132,845 shares of the company’s stock, valued at $74,500,275.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alan Ramsay sold 12,178 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $34.90, for a total transaction of $425,012.20. Following the completion of the transaction, the chief accounting officer now directly owns 118,142 shares in the company, valued at approximately $4,123,155.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,008 shares of company stock valued at $2,795,362. Insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Several large investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in shares of Maplebear by 139.3% during the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after acquiring an additional 620 shares during the period. Cantor Fitzgerald L. P. increased its stake in shares of Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after acquiring an additional 2,489 shares during the period. Kapitalo Investimentos Ltda acquired a new position in shares of Maplebear during the fourth quarter valued at approximately $69,000. Amalgamated Bank acquired a new position in shares of Maplebear during the fourth quarter valued at approximately $94,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Maplebear during the fourth quarter valued at approximately $110,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.