JMP Securities Issues Positive Forecast for Maplebear (NASDAQ:CART) Stock Price

Maplebear (NASDAQ:CART) had its price target raised by JMP Securities from $42.00 to $51.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other research analysts also recently commented on CART. Stifel Nicolaus raised their target price on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Maplebear in a research note on Wednesday. Raymond James began coverage on Maplebear in a research note on Tuesday, September 24th. They issued a “market perform” rating for the company. Wolfe Research assumed coverage on Maplebear in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Bank of America upped their price objective on shares of Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.95.

Maplebear Price Performance

Shares of CART opened at $43.02 on Wednesday. The business has a 50-day moving average of $41.66 and a 200-day moving average of $36.46. Maplebear has a 1 year low of $22.13 and a 1 year high of $50.01. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 1.50 and a beta of 1.12.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. The company had revenue of $852.00 million for the quarter, compared to analysts’ expectations of $844.03 million. Maplebear had a return on equity of 13.32% and a net margin of 13.37%. Maplebear’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business earned ($20.86) EPS. As a group, sell-side analysts anticipate that Maplebear will post 1.17 EPS for the current year.

Insider Transactions at Maplebear

In other Maplebear news, CEO Fidji Simo sold 33,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the completion of the sale, the chief executive officer now directly owns 1,844,778 shares of the company’s stock, valued at approximately $65,065,320.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Maplebear news, CAO Alan Ramsay sold 2,486 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $41.39, for a total transaction of $102,895.54. Following the transaction, the chief accounting officer now owns 99,225 shares in the company, valued at approximately $4,106,922.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Fidji Simo sold 33,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total value of $1,163,910.00. Following the completion of the sale, the chief executive officer now directly owns 1,844,778 shares of the company’s stock, valued at $65,065,320.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,710 shares of company stock valued at $4,978,164. Corporate insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CART. Huntington National Bank acquired a new stake in Maplebear in the third quarter valued at $54,000. nVerses Capital LLC grew its stake in Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after acquiring an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Maplebear during the 3rd quarter valued at about $74,000. Quarry LP raised its position in Maplebear by 269.5% during the second quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after acquiring an additional 2,865 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Maplebear in the first quarter valued at about $213,000. Hedge funds and other 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.