Maplebear Inc. (NASDAQ:CART – Get Free Report) has been given a consensus rating of “Moderate Buy” by the twenty-three research firms that are covering the company, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $39.42.
CART has been the subject of several research analyst reports. Moffett Nathanson restated a “neutral” rating and set a $37.00 price target (up from $36.00) on shares of Maplebear in a research note on Thursday, April 11th. Oppenheimer raised their price target on shares of Maplebear from $36.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, April 29th. BMO Capital Markets began coverage on shares of Maplebear in a research note on Tuesday, January 9th. They set a “market perform” rating and a $26.00 price objective for the company. Robert W. Baird increased their price objective on shares of Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Finally, Sanford C. Bernstein upgraded shares of Maplebear from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $30.00 to $43.00 in a report on Thursday, March 14th.
Check Out Our Latest Stock Report on Maplebear
Insider Activity
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the company. TD Asset Management Inc bought a new stake in Maplebear during the third quarter worth about $6,640,000. Levin Capital Strategies L.P. acquired a new position in shares of Maplebear during the 3rd quarter worth approximately $846,000. Industry Ventures L.L.C. bought a new stake in shares of Maplebear during the 3rd quarter worth approximately $7,796,000. EFG Asset Management North America Corp. bought a new stake in shares of Maplebear during the 3rd quarter worth approximately $270,000. Finally, Signaturefd LLC acquired a new stake in shares of Maplebear in the 3rd quarter valued at approximately $30,000. 63.09% of the stock is currently owned by institutional investors.
Maplebear Trading Up 2.7 %
Maplebear stock opened at $37.52 on Friday. The stock has a 50-day moving average price of $35.93 and a 200 day moving average price of $29.00. Maplebear has a 52 week low of $22.13 and a 52 week high of $42.95.
Maplebear (NASDAQ:CART – Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.52. The business had revenue of $803.00 million for the quarter, compared to analyst estimates of $804.62 million. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts expect that Maplebear will post 0.53 earnings per share for the current year.
About Maplebear
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.
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