Maplebear (NASDAQ:CART) Price Target Raised to $48.00 at Oppenheimer

Maplebear (NASDAQ:CART) had its price objective increased by Oppenheimer from $36.00 to $48.00 in a research report sent to investors on Monday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research analysts have also weighed in on CART. Morgan Stanley initiated coverage on Maplebear in a research report on Tuesday, January 30th. They issued an equal weight rating and a $28.00 price objective for the company. Wolfe Research increased their price objective on shares of Maplebear from $35.00 to $39.00 and gave the stock an outperform rating in a research report on Tuesday, March 5th. BMO Capital Markets started coverage on Maplebear in a research report on Tuesday, January 9th. They issued a market perform rating and a $26.00 target price on the stock. Robert W. Baird raised their price target on Maplebear from $31.00 to $44.00 and gave the stock an outperform rating in a research report on Monday, April 1st. Finally, Benchmark downgraded Maplebear from a buy rating to a hold rating in a report on Tuesday, January 23rd. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $38.79.

Maplebear Price Performance

Shares of CART stock opened at $34.48 on Monday. Maplebear has a twelve month low of $22.13 and a twelve month high of $42.95. The company’s 50-day moving average price is $35.33 and its 200-day moving average price is $28.62.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.52. The firm had revenue of $803.00 million during the quarter, compared to analyst estimates of $804.62 million. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts forecast that Maplebear will post 0.53 earnings per share for the current year.

Insider Buying and Selling at Maplebear

In related news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $27.90 per share, with a total value of $28,923,455.70. Following the completion of the acquisition, the insider now owns 1,036,683 shares in the company, valued at $28,923,455.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Us (Ttgp) Ltd. Sc bought 1,036,683 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average cost of $27.90 per share, with a total value of $28,923,455.70. Following the transaction, the insider now directly owns 1,036,683 shares of the company’s stock, valued at approximately $28,923,455.70. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Morgan Fong sold 98,200 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $34.32, for a total transaction of $3,370,224.00. Following the completion of the sale, the general counsel now directly owns 283,068 shares of the company’s stock, valued at $9,714,893.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 2,157,745 shares of company stock worth $61,771,955 and have sold 1,027,279 shares worth $29,422,416. 4.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Capital LLC boosted its holdings in shares of Maplebear by 4.3% in the first quarter. Renaissance Capital LLC now owns 14,692 shares of the company’s stock valued at $548,000 after acquiring an additional 607 shares during the period. Parallel Advisors LLC grew its position in Maplebear by 139.3% during the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after purchasing an additional 620 shares during the last quarter. Signaturefd LLC acquired a new position in Maplebear in the third quarter valued at $30,000. Cantor Fitzgerald L. P. raised its holdings in shares of Maplebear by 389.5% in the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after buying an additional 2,489 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Maplebear during the fourth quarter worth about $69,000. 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.