JMP Securities Increases Maplebear (NASDAQ:CART) Price Target to $42.00

Maplebear (NASDAQ:CART) had its price target increased by stock analysts at JMP Securities from $35.00 to $42.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 16.38% from the stock’s current price.

CART has been the topic of a number of other research reports. Benchmark reaffirmed a “hold” rating on shares of Maplebear in a report on Tuesday. BMO Capital Markets boosted their target price on Maplebear from $26.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday. Wolfe Research increased their target price on Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. upped their price target on shares of Maplebear from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Finally, Barclays upped their target price on Maplebear from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.89.

Maplebear Trading Down 3.7 %

Shares of NASDAQ CART traded down $1.39 during trading hours on Thursday, hitting $36.09. The company had a trading volume of 7,584,203 shares, compared to its average volume of 4,136,903. Maplebear has a 1-year low of $22.13 and a 1-year high of $42.95. The firm’s 50 day moving average is $36.17 and its 200-day moving average is $29.15.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share 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 analyst estimates of $794.08 million. Maplebear’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts anticipate that Maplebear will post 0.53 EPS for the current fiscal year.

Insider Transactions at Maplebear

In other Maplebear news, CFO Nick Giovanni sold 900 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $35.00, for a total transaction of $31,500.00. Following the transaction, the chief financial officer now directly owns 591,077 shares in the company, valued at $20,687,695. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jeffrey D. Jordan sold 760,479 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $26.01, for a total transaction of $19,780,058.79. Following the sale, the director now directly owns 20,783 shares in the company, valued at approximately $540,565.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nick Giovanni sold 900 shares of Maplebear stock in a transaction on Monday, March 11th. The stock was sold at an average price of $35.00, for a total transaction of $31,500.00. Following the completion of the transaction, the chief financial officer now directly owns 591,077 shares of the company’s stock, valued at $20,687,695. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 2,157,745 shares of company stock valued at $61,771,955 and sold 1,055,899 shares valued at $30,422,265. Company insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its position in shares of Maplebear by 139.3% in the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after purchasing an additional 620 shares in the last quarter. Signaturefd LLC acquired a new position in Maplebear in the 3rd quarter worth about $30,000. Cantor Fitzgerald L. P. increased its stake in Maplebear by 389.5% during the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after buying an additional 2,489 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Maplebear during the fourth quarter worth about $69,000. Finally, Amalgamated Bank purchased a new stake in shares of Maplebear in the 4th quarter valued at approximately $94,000. Institutional investors 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.