Maplebear (NASDAQ:CART) Price Target Cut to $41.00 by Analysts at Morgan Stanley

Maplebear (NASDAQ:CART) had its target price decreased by Morgan Stanley from $45.00 to $41.00 in a research report released on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research analysts have also recently issued reports on CART. Gordon Haskett raised shares of Maplebear from a hold rating to a buy rating and lifted their price objective for the company from $37.00 to $45.00 in a research note on Wednesday, June 5th. Wolfe Research began coverage on Maplebear in a research note on Tuesday, July 16th. They issued a peer perform rating on the stock. Wedbush upped their price objective on Maplebear from $35.00 to $38.00 and gave the stock a neutral rating in a research report on Wednesday, August 7th. Macquarie lifted their target price on Maplebear from $44.00 to $45.00 and gave the company an outperform rating in a research report on Thursday, August 8th. Finally, Citigroup increased their target price on shares of Maplebear from $44.00 to $47.00 and gave the stock a buy rating in a report on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Maplebear has an average rating of Moderate Buy and a consensus price target of $43.33.

Maplebear Price Performance

CART opened at $40.08 on Tuesday. Maplebear has a 52-week low of $22.13 and a 52-week high of $42.58. The business’s fifty day moving average is $34.86 and its 200-day moving average is $34.76.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. The firm had revenue of $823.00 million for the quarter, compared to the consensus estimate of $806.35 million. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The firm’s revenue was up 14.9% compared to the same quarter last year. On average, research analysts expect that Maplebear will post 1.12 earnings per share for the current year.

Insider Buying and Selling

In other Maplebear news, CAO Alan Ramsay sold 2,626 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $91,962.52. Following the sale, the chief accounting officer now owns 107,910 shares in the company, valued at approximately $3,779,008.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, General Counsel Morgan Fong sold 9,506 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $332,900.12. Following the completion of the sale, the general counsel now directly owns 372,335 shares in the company, valued at $13,039,171.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Alan Ramsay sold 2,626 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $91,962.52. Following the completion of the transaction, the chief accounting officer now owns 107,910 shares in the company, valued at approximately $3,779,008.20. The disclosure for this sale can be found here. Insiders sold a total of 67,655 shares of company stock valued at $2,504,824 in the last three months. Insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

A number of large investors have recently bought and sold shares of CART. Parallel Advisors LLC boosted its position in shares of Maplebear by 139.3% during the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after purchasing an additional 620 shares in the last quarter. Cantor Fitzgerald L. P. lifted its stake in Maplebear by 389.5% in the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after buying an additional 2,489 shares during the period. nVerses Capital LLC boosted its holdings in shares of Maplebear by 1,600.0% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after buying an additional 1,600 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Maplebear during the 4th quarter worth approximately $69,000. Finally, Quarry LP grew its position 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 buying an additional 2,865 shares during the period. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Company Profile

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.