Maplebear (NASDAQ:CART) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Maplebear (NASDAQ:CART) in a report released on Tuesday, Marketbeat reports. The brokerage issued a hold rating and a $37.00 price objective on the stock.

Other analysts have also issued research reports about the company. Stifel Nicolaus lifted their price objective on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Barclays upped their price target on shares of Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Benchmark reissued a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Oppenheimer upped their target price on shares of Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, BMO Capital Markets lifted their price target on shares of Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Thirteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.82.

Maplebear Stock Performance

CART opened at $43.70 on Tuesday. The company’s 50-day simple moving average is $43.33 and its two-hundred day simple moving average is $37.28. The stock has a market capitalization of $11.23 billion, a P/E ratio of 29.33, a P/E/G ratio of 1.13 and a beta of 0.94. Maplebear has a 52-week low of $22.13 and a 52-week high of $50.01.

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

Insider Transactions at Maplebear

In other news, CAO Alan Ramsay sold 2,559 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $42.97, for a total transaction of $109,960.23. Following the completion of the transaction, the chief accounting officer now directly owns 96,666 shares in the company, valued at approximately $4,153,738.02. This represents a 2.58 % 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. Also, General Counsel Morgan Fong sold 8,345 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total transaction of $333,800.00. Following the completion of the sale, the general counsel now owns 330,886 shares in the company, valued at $13,235,440. This represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,954 shares of company stock valued at $4,890,405. 36.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Maplebear

Several institutional investors have recently bought and sold shares of CART. Wilmington Savings Fund Society FSB purchased a new stake in shares of Maplebear during the 3rd quarter valued at about $33,000. Huntington National Bank purchased a new stake in Maplebear during the third quarter valued at approximately $54,000. nVerses Capital LLC lifted its stake in shares of 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 purchasing an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Maplebear in the 3rd quarter worth approximately $74,000. Finally, Quarry LP boosted its holdings in shares of Maplebear by 269.5% in 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. 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.