Maplebear (NASDAQ:CART) Rating Increased to Strong-Buy at Mizuho

Maplebear (NASDAQ:CART) was upgraded by stock analysts at Mizuho to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also recently commented on the stock. Loop Capital boosted their price target on shares of Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a report on Monday, December 9th. Jefferies Financial Group began coverage on Maplebear in a research note on Wednesday, October 16th. They issued a “hold” rating and a $43.00 target price on the stock. Piper Sandler raised their price target on Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. JMP Securities lifted their price target on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Finally, Oppenheimer increased their price objective on Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $48.31.

Maplebear Stock Up 4.4 %

Shares of Maplebear stock opened at $46.45 on Monday. The stock has a market cap of $11.93 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04. Maplebear has a 12 month low of $22.70 and a 12 month high of $50.01. The business has a fifty day simple moving average of $43.61 and a 200-day simple moving average of $39.57.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $852.00 million for the quarter, compared to the consensus estimate of $844.03 million. During the same quarter in the prior year, the company earned ($20.86) EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. Analysts expect that Maplebear will post 1.4 EPS for the current fiscal year.

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 11,325 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $42.97, for a total value of $486,635.25. Following the completion of the transaction, the general counsel now owns 287,659 shares of the company’s stock, valued at $12,360,707.23. This represents a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Alan Ramsay sold 2,559 shares of Maplebear stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $42.97, for a total value of $109,960.23. Following the sale, the chief accounting officer now directly owns 96,666 shares in the company, valued at $4,153,738.02. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 112,128 shares of company stock worth $4,980,404 over the last three months. Company insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

Several hedge funds and other institutional investors have recently modified their holdings of CART. Paragon Capital Management Ltd grew its position in Maplebear by 33.3% in the fourth quarter. Paragon Capital Management Ltd now owns 12,740 shares of the company’s stock valued at $528,000 after acquiring an additional 3,185 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Maplebear in the 4th quarter valued at $1,166,000. Watts Gwilliam & Co. LLC grew its holdings in shares of Maplebear by 39.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 7,300 shares of the company’s stock worth $313,000 after purchasing an additional 2,047 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of Maplebear during the 4th quarter worth about $2,078,000. Finally, Lord Abbett & CO. LLC lifted its holdings in Maplebear by 370.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 859,006 shares of the company’s stock valued at $34,996,000 after purchasing an additional 676,605 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.