Maplebear (NASDAQ:CART) Price Target Raised to $45.00

Maplebear (NASDAQ:CART) had its price target lifted by Bank of America from $41.00 to $45.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts have also commented on the stock. Morgan Stanley lowered their price target on shares of Maplebear from $45.00 to $41.00 and set an equal weight rating on the stock in a research report on Tuesday. Cantor Fitzgerald reissued an overweight rating and set a $45.00 price objective on shares of Maplebear in a research note on Monday. Gordon Haskett raised shares of Maplebear from a hold rating to a buy rating and upped their price objective for the company from $37.00 to $45.00 in a research note on Wednesday, June 5th. Citigroup upped their price objective on shares of Maplebear from $44.00 to $47.00 and gave the company a buy rating in a research note on Thursday, August 8th. Finally, Benchmark reissued a hold rating on shares of Maplebear in a research note on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Maplebear currently has an average rating of Moderate Buy and a consensus price target of $43.33.

Maplebear Stock Performance

Shares of CART opened at $39.46 on Tuesday. The firm’s 50-day moving average is $35.03 and its two-hundred day moving average is $34.84. Maplebear has a twelve month low of $22.13 and a twelve month high of $42.58.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The company had revenue of $823.00 million for the quarter, compared to analyst estimates of $806.35 million. Maplebear’s revenue was up 14.9% compared to the same quarter last year. On average, sell-side analysts predict that Maplebear will post 1.12 earnings per share for the current year.

Insiders Place Their Bets

In other Maplebear news, CAO Alan Ramsay sold 2,626 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $91,962.52. Following the completion of the transaction, the chief accounting officer now directly owns 107,910 shares of the company’s stock, valued at approximately $3,779,008.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Maplebear news, CAO Alan Ramsay sold 2,626 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $91,962.52. Following the completion of the transaction, the chief accounting officer now directly owns 107,910 shares of the company’s stock, valued at approximately $3,779,008.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 33,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the transaction, the chief executive officer now directly owns 1,844,778 shares of the company’s stock, valued at $65,065,320.06. The disclosure for this sale can be found here. Insiders sold a total of 67,655 shares of company stock valued at $2,504,824 in the last ninety days. Corporate insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Renaissance Capital LLC lifted its position in shares of Maplebear by 4.3% in the 1st quarter. Renaissance Capital LLC now owns 14,692 shares of the company’s stock worth $548,000 after buying an additional 607 shares during the last quarter. Parallel Advisors LLC lifted its position in Maplebear by 139.3% in the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after purchasing an additional 620 shares during the last quarter. Creative Planning lifted its position in Maplebear by 9.5% in the 2nd quarter. Creative Planning now owns 9,566 shares of the company’s stock valued at $307,000 after purchasing an additional 831 shares during the last quarter. nVerses Capital LLC lifted its position in Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Cantor Fitzgerald L. P. lifted its position in Maplebear by 389.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after purchasing an additional 2,489 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors.

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.