Loop Capital Issues Positive Forecast for Maplebear (NASDAQ:CART) Stock Price

Maplebear (NASDAQ:CART) had its price target hoisted by Loop Capital from $49.00 to $56.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Loop Capital’s price objective would indicate a potential upside of 32.17% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Piper Sandler boosted their target price on shares of Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Raymond James began coverage on shares of Maplebear in a research note on Tuesday, September 24th. They set a “market perform” rating on the stock. Bank of America raised their target price on shares of Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Needham & Company LLC reissued a “hold” rating on shares of Maplebear in a research report on Wednesday, November 13th. Finally, Barclays raised their price objective on Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.14.

Maplebear Price Performance

Maplebear stock opened at $42.37 on Monday. The firm has a 50-day moving average of $43.64 and a 200-day moving average of $37.60. The company has a market cap of $10.88 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 1.15 and a beta of 0.94. Maplebear has a one year low of $22.13 and a one year high of $50.01.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.22 by $0.20. The firm 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% compared to the same quarter last year. During the same period in the prior year, the firm posted ($20.86) earnings per share. As a group, sell-side analysts expect that Maplebear will post 1.4 earnings per share for the current year.

Insider Activity at Maplebear

In related news, CAO Alan Ramsay sold 2,486 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $41.39, for a total transaction of $102,895.54. Following the completion of the sale, the chief accounting officer now owns 99,225 shares of the company’s stock, valued at $4,106,922.75. This represents a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $44.39, for a total transaction of $921,092.50. Following the completion of the transaction, the chief executive officer now directly owns 1,803,278 shares in the company, valued at approximately $80,047,510.42. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,954 shares of company stock worth $4,890,405. Company insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CART. Wilmington Savings Fund Society FSB bought a new position in shares of Maplebear in the 3rd quarter valued at $33,000. Huntington National Bank acquired a new stake in Maplebear in the third quarter valued at about $54,000. nVerses Capital LLC grew its position in Maplebear by 1,600.0% in the second 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. acquired a new position in Maplebear during the third quarter worth about $74,000. Finally, Quarry LP lifted its holdings in shares of Maplebear by 269.5% in 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. 63.09% of the stock is currently owned by institutional investors and hedge funds.

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.