Morgan Stanley Issues Positive Forecast for Maplebear (NASDAQ:CART) Stock Price

Maplebear (NASDAQ:CART) had its target price boosted by equities researchers at Morgan Stanley from $41.00 to $44.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 0.45% from the company’s previous close.

Several other equities research analysts have also commented on the company. BMO Capital Markets upped their target price on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, November 13th. Piper Sandler upped their target price on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Bank of America upped their target price on Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Maplebear in a report on Monday, October 7th. Finally, Barclays increased their price target on Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.63.

Maplebear Trading Down 0.1 %

CART traded down $0.03 on Monday, reaching $44.20. The stock had a trading volume of 2,216,679 shares, compared to its average volume of 3,781,475. Maplebear has a fifty-two week low of $22.70 and a fifty-two week high of $50.01. The firm has a 50-day moving average of $43.59 and a 200-day moving average of $39.38. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.20. The company had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($20.86) earnings per share. Sell-side analysts anticipate that Maplebear will post 1.4 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Morgan Fong sold 11,325 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $42.97, for a total transaction of $486,635.25. Following the sale, the general counsel now owns 287,659 shares in the company, valued at approximately $12,360,707.23. The trade was a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total value of $92,261.82. Following the sale, the chief accounting officer now owns 89,982 shares in the company, valued at $3,694,660.92. The trade was a 2.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 112,128 shares of company stock valued at $4,980,404. Corporate insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Several hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Maplebear during the 3rd quarter worth approximately $33,000. Huntington National Bank acquired a new stake in shares of Maplebear in the 3rd quarter worth $54,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Maplebear in the 3rd quarter worth $74,000. Quarry LP grew its holdings in shares of Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after purchasing an additional 2,865 shares during the period. Finally, Vinva Investment Management Ltd purchased a new position in shares of Maplebear during the 3rd quarter worth $212,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Company Profile

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.