Brokerages Set Maplebear Inc. (NASDAQ:CART) Target Price at $38.79

Shares of Maplebear Inc. (NASDAQ:CART) have been given a consensus recommendation of “Moderate Buy” by the twenty-three analysts that are covering the stock, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $40.89.

Several equities analysts recently issued reports on the company. Barclays boosted their price target on Maplebear from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler reissued an “overweight” rating and issued a $47.00 target price (up previously from $45.00) on shares of Maplebear in a report on Thursday. Stifel Nicolaus upped their price target on shares of Maplebear from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday. Loop Capital assumed coverage on shares of Maplebear in a report on Friday, April 19th. They set a “buy” rating and a $46.00 price objective on the stock. Finally, JMP Securities increased their target price on shares of Maplebear from $35.00 to $42.00 and gave the company a “market outperform” rating in a report on Thursday.

Insider Activity at Maplebear

In other Maplebear news, Director Jeffrey D. Jordan sold 760,479 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $26.01, for a total transaction of $19,780,058.79. Following the completion of the sale, the director now directly owns 20,783 shares in the company, valued at $540,565.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Maplebear news, major shareholder Us (Ttgp) Ltd. Sc bought 438,361 shares of Maplebear stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $29.69 per share, for a total transaction of $13,014,938.09. Following the acquisition, the insider now owns 2,012,859 shares of the company’s stock, valued at approximately $59,761,783.71. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey D. Jordan sold 760,479 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $26.01, for a total value of $19,780,058.79. Following the completion of the sale, the director now owns 20,783 shares of the company’s stock, valued at $540,565.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 2,157,745 shares of company stock worth $61,771,955 and have sold 1,055,899 shares worth $30,422,265. 36.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Maplebear

Institutional investors and hedge funds have recently modified their holdings of the stock. TD Asset Management Inc purchased a new stake in shares of Maplebear during the 3rd quarter valued at about $6,640,000. Levin Capital Strategies L.P. purchased a new stake in shares of Maplebear during the third quarter valued at approximately $846,000. Industry Ventures L.L.C. acquired a new position in shares of Maplebear during the third quarter worth $7,796,000. EFG Asset Management North America Corp. purchased a new position in shares of Maplebear in the third quarter valued at $270,000. Finally, Signaturefd LLC acquired a new stake in Maplebear during the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Down 3.7 %

CART opened at $36.09 on Friday. Maplebear has a 52 week low of $22.13 and a 52 week high of $42.95. The business’s 50 day moving average is $36.17 and its two-hundred day moving average is $29.15.

Maplebear (NASDAQ:CART) last announced its earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.39. The business had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $794.08 million. The business’s revenue was up 8.0% compared to the same quarter last year. Sell-side analysts forecast that Maplebear will post 0.53 EPS 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.