Maplebear (NASDAQ:CART) Price Target Raised to $57.00 at Stifel Nicolaus

Maplebear (NASDAQ:CART) had its price objective boosted by Stifel Nicolaus from $56.00 to $57.00 in a research note published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently issued reports on CART. JPMorgan Chase & Co. upped their price objective on Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Seaport Res Ptn raised shares of Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $55.00 price objective on shares of Maplebear in a research note on Wednesday. Barclays increased their price objective on Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Maplebear in a report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 target price on the stock. Thirteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.80.

Maplebear Price Performance

Shares of Maplebear stock opened at $42.80 on Wednesday. The company’s 50 day moving average price is $46.48 and its two-hundred day moving average price is $42.68. The firm has a market capitalization of $11.00 billion, a P/E ratio of 28.72, a P/E/G ratio of 1.19 and a beta of 1.07. Maplebear has a fifty-two week low of $29.84 and a fifty-two week high of $53.44.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. On average, analysts expect that Maplebear will post 1.43 earnings per share for the current year.

Insider Buying and Selling at Maplebear

In other news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the completion of the transaction, the chief executive officer now directly owns 1,771,993 shares in the company, valued at approximately $75,734,980.82. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the sale, the chief accounting officer now owns 87,735 shares in the company, valued at approximately $3,697,152.90. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,311 shares of company stock valued at $1,088,636 over the last three months. 36.00% of the stock is currently owned by insiders.

Institutional Trading of Maplebear

Hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp grew its position in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after acquiring an additional 222 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Maplebear by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock valued at $331,000 after purchasing an additional 286 shares during the last quarter. Allworth Financial LP raised its position in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after purchasing an additional 420 shares during the period. WCG Wealth Advisors LLC raised its position in Maplebear by 3.3% in the 4th quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company’s stock worth $590,000 after purchasing an additional 451 shares during the period. Finally, Coldstream Capital Management Inc. lifted its stake in Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after purchasing an additional 490 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.