Research Analysts’ Weekly Ratings Updates for Maplebear (CART)

Maplebear (NASDAQ: CART) recently received a number of ratings updates from brokerages and research firms:

• 11/14/2024 – Maplebear had its price target raised by analysts at Macquarie from $50.00 to $52.00. They now have an “outperform” rating on the stock.
• 11/13/2024 – Maplebear had its price target raised by analysts at Piper Sandler from $50.00 to $58.00. They now have an “overweight” rating on the stock.
• 11/13/2024 – Maplebear had its price target raised by analysts at Barclays PLC from $48.00 to $56.00. They now have an “overweight” rating on the stock.
• 11/13/2024 – Maplebear had its price target raised by analysts at JPMorgan Chase & Co. from $47.00 to $52.00. They now have an “overweight” rating on the stock.
• 11/13/2024 – Maplebear had its price target raised by analysts at Oppenheimer Holdings Inc. from $55.00 to $60.00. They now have an “outperform” rating on the stock.
• 11/13/2024 – Maplebear had its price target raised by analysts at Robert W. Baird from $44.00 to $51.00. They now have an “outperform” rating on the stock.
• 11/13/2024 – Maplebear had its price target raised by analysts at Bank of America Co. from $50.00 to $51.00. They now have a “neutral” rating on the stock.
• 11/13/2024 – Maplebear had its price target raised by analysts at BMO Capital Markets from $39.00 to $48.00. They now have a “market perform” rating on the stock.
• 11/13/2024 – Maplebear had its price target raised by analysts at JMP Securities from $42.00 to $51.00. They now have a “market outperform” rating on the stock.
• 11/13/2024 – Maplebear had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 11/6/2024 – Maplebear had its price target raised by analysts at Oppenheimer Holdings Inc. from $48.00 to $55.00. They now have an “outperform” rating on the stock.
• 10/28/2024 – Maplebear had its price target raised by analysts at Stifel Nicolaus from $52.00 to $55.00. They now have a “buy” rating on the stock.
• 10/16/2024 – Maplebear is now covered by analysts at Jefferies Financial Group Inc.. They set a “hold” rating and a $43.00 price target on the stock.
• 10/7/2024 – Maplebear had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $45.00 price target on the stock.

Maplebear Trading Down 0.4 %

NASDAQ CART traded down $0.16 during trading hours on Monday, reaching $43.51. 3,979,502 shares of the company traded hands, compared to its average volume of 3,990,943. The stock has a market capitalization of $11.18 billion, a PE ratio of 29.20, a PEG ratio of 1.13 and a beta of 1.12. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $50.01. The company has a 50 day moving average of $43.20 and a two-hundred day moving average of $37.14.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping 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 business had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. During the same period last year, the firm earned ($20.86) earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities research analysts anticipate that Maplebear Inc. will post 1.4 earnings per share for the current year.

Insider Activity at Maplebear

In related news, CAO Alan Ramsay sold 2,559 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $42.97, for a total transaction of $109,960.23. Following the completion of the sale, the chief accounting officer now owns 96,666 shares of the company’s stock, valued at $4,153,738.02. This represents a 2.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 10,992 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $41.38, for a total transaction of $454,848.96. Following the completion of the transaction, the general counsel now directly owns 298,984 shares in the company, valued at $12,371,957.92. This represents a 3.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,954 shares of company stock valued at $4,890,405. Corporate insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

Several hedge funds have recently made changes to their positions in CART. Portman Ltd bought a new stake in Maplebear in the 3rd quarter valued at about $3,196,000. Vanguard Group Inc. boosted its holdings in shares of Maplebear by 239.1% in the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock valued at $7,961,000 after acquiring an additional 150,544 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Maplebear during the second quarter valued at approximately $8,293,000. Investment House LLC bought a new position in Maplebear during the 2nd quarter valued at $750,000. Finally, Eos Management L.P. boosted its stake in Maplebear by 98.1% during the 3rd quarter. Eos Management L.P. now owns 31,508 shares of the company’s stock valued at $1,284,000 after purchasing an additional 15,600 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

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.