Maplebear (NASDAQ:CART) Price Target Raised to $39.00

Maplebear (NASDAQ:CARTFree Report) had its price objective hoisted by Wolfe Research from $35.00 to $39.00 in a research note released on Tuesday, Benzinga reports. Wolfe Research currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the company. BMO Capital Markets initiated coverage on Maplebear in a research note on Tuesday, January 9th. They issued a market perform rating and a $26.00 price objective for the company. Morgan Stanley initiated coverage on Maplebear in a research note on Tuesday, January 30th. They issued an equal weight rating and a $28.00 price objective for the company. Benchmark lowered Maplebear from a buy rating to a hold rating in a research note on Tuesday, January 23rd. JMP Securities raised their price objective on Maplebear from $33.00 to $35.00 and gave the company a market outperform rating in a research note on Thursday, November 9th. Finally, Barclays raised their price objective on Maplebear from $40.00 to $41.00 and gave the company an overweight rating in a research note on Wednesday, February 14th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $34.29.

View Our Latest Report on Maplebear

Maplebear Price Performance

NASDAQ CART opened at $34.38 on Tuesday. The company’s 50 day moving average price is $26.90. Maplebear has a 1-year low of $22.13 and a 1-year high of $42.95.

Maplebear (NASDAQ:CARTGet Free Report) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.52. The firm had revenue of $803.00 million for the quarter, compared to analysts’ expectations of $804.62 million. The business’s revenue was up 6.1% on a year-over-year basis. As a group, research analysts forecast that Maplebear will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In other news, Director Jeffrey D. Jordan sold 760,479 shares of Maplebear stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $26.01, for a total value of $19,780,058.79. Following the transaction, the director now directly owns 20,783 shares in the company, valued at approximately $540,565.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jeffrey D. Jordan sold 760,479 shares of Maplebear stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $26.01, for a total value of $19,780,058.79. Following the transaction, the director now directly owns 20,783 shares in the company, valued at approximately $540,565.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Us (Ttgp) Ltd. Sc purchased 438,361 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was bought at an average price of $29.69 per share, for a total transaction of $13,014,938.09. Following the completion of the acquisition, the insider now directly owns 2,012,859 shares in the company, valued at approximately $59,761,783.71. The disclosure for this purchase can be found here. Insiders bought a total of 2,157,745 shares of company stock valued at $61,771,955 in the last ninety days. Corporate insiders own 4.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC grew its stake in Maplebear by 139.3% during the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after buying an additional 620 shares during the last quarter. Signaturefd LLC purchased a new position in Maplebear during the 3rd quarter worth $30,000. Cantor Fitzgerald L. P. grew 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 during the last quarter. UBS Group AG purchased a new position in Maplebear during the 3rd quarter worth $56,000. Finally, California State Teachers Retirement System acquired a new stake in Maplebear during the 3rd quarter worth about $74,000.

About Maplebear

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Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers a range of products, such as food, alcohol, consumer health, pet care, ready-made meals, and others. The company offers its services through a mobile application and website.

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Analyst Recommendations for Maplebear (NASDAQ:CART)

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