Maplebear (NASDAQ:CART) Price Target Cut to $52.00 by Analysts at Mizuho

Maplebear (NASDAQ:CART) had its price objective cut by analysts at Mizuho from $55.00 to $52.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 18.74% from the company’s previous close.

A number of other equities research analysts also recently weighed in on CART. Oppenheimer dropped their target price on Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Maplebear in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price objective for the company. JPMorgan Chase & Co. upped their price target on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Loop Capital boosted their target price on shares of Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Stifel Nicolaus boosted their target price on shares of Maplebear from $56.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday. Thirteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.88.

Maplebear Price Performance

Shares of CART traded down $4.99 on Wednesday, reaching $43.79. 5,541,054 shares of the stock traded hands, compared to its average volume of 4,269,553. The stock’s 50-day moving average price is $46.46 and its 200-day moving average price is $42.68. The firm has a market cap of $11.25 billion, a price-to-earnings ratio of 29.22, a P/E/G ratio of 1.19 and a beta of 1.07. Maplebear has a 12 month low of $29.84 and a 12 month high of $53.44.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $883.00 million during the quarter, compared to analysts’ expectations of $889.98 million. As a group, equities research analysts forecast that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insider Transactions at Maplebear

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the sale, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the sale, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,311 shares of company stock worth $1,088,636 over the last quarter. 36.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Maplebear

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Maplebear by 16.8% during the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock worth $661,409,000 after buying an additional 2,300,288 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Maplebear by 15.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,744,652 shares of the company’s stock worth $196,524,000 after acquiring an additional 635,930 shares in the last quarter. Victory Capital Management Inc. raised its stake in Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock valued at $187,495,000 after buying an additional 4,487,654 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Maplebear during the third quarter worth $158,701,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Maplebear by 85.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company’s stock valued at $127,650,000 after acquiring an additional 1,416,426 shares during the period. Institutional investors own 63.09% of the company’s stock.

About Maplebear

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.