Barclays Increases Maplebear (NASDAQ:CART) Price Target to $43.00

Maplebear (NASDAQ:CART) had its target price raised by stock analysts at Barclays from $41.00 to $43.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 17.55% from the company’s previous close.

Several other research analysts have also commented on CART. Benchmark reaffirmed a “hold” rating on shares of Maplebear in a research note on Tuesday. Piper Sandler reiterated an “overweight” rating and set a $47.00 target price (up from $45.00) on shares of Maplebear in a research report on Thursday. Morgan Stanley lifted their target price on Maplebear from $28.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a research report on Tuesday. Finally, Robert W. Baird lifted their target price on Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Maplebear currently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Maplebear Stock Down 2.4 %

NASDAQ CART traded down $0.90 on Thursday, hitting $36.58. 4,538,878 shares of the stock were exchanged, compared to its average volume of 4,101,465. The stock has a fifty day moving average price of $36.05 and a two-hundred day moving average price of $29.09. Maplebear has a 52-week low of $22.13 and a 52-week high of $42.95.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.04 by $0.39. The firm had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $794.08 million. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, analysts predict that Maplebear will post 0.53 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average cost of $27.90 per share, with a total value of $28,923,455.70. Following the completion of the transaction, the insider now owns 1,036,683 shares in the company, valued at approximately $28,923,455.70. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Maplebear news, General Counsel Morgan Fong sold 98,200 shares of the stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were bought at an average price of $27.90 per share, for a total transaction of $28,923,455.70. Following the acquisition, the insider now owns 1,036,683 shares of the company’s stock, valued at $28,923,455.70. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 2,157,745 shares of company stock valued at $61,771,955 and sold 1,055,899 shares valued at $30,422,265. 36.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Maplebear

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC increased its holdings in shares of Maplebear by 139.3% during the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after acquiring an additional 620 shares in the last quarter. Signaturefd LLC acquired a new position in shares of Maplebear during the third quarter valued at about $30,000. Cantor Fitzgerald L. P. increased its holdings in shares of Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after acquiring an additional 2,489 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Maplebear during the fourth quarter valued at about $69,000. Finally, Amalgamated Bank acquired a new position in shares of Maplebear during the fourth quarter valued at about $94,000. 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.