Morgan Stanley Forecasts Strong Price Appreciation for Maplebear (NASDAQ:CART) Stock

Maplebear (NASDAQ:CART) had its target price lifted by research analysts at Morgan Stanley from $41.00 to $44.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential downside of 5.27% from the company’s current price.

CART has been the subject of several other research reports. 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. Piper Sandler upped their target price on shares of Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. increased their price target on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. BMO Capital Markets boosted their price objective on shares of Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus upped their price objective on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Thirteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and an average target price of $48.31.

Maplebear Trading Up 4.4 %

NASDAQ:CART opened at $46.45 on Monday. The company has a market cap of $11.93 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04. The company has a 50 day simple moving average of $43.61 and a two-hundred day simple moving average of $39.57. Maplebear has a 12 month low of $22.70 and a 12 month high of $50.01.

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

Insider Buying and Selling

In related news, CAO Alan Ramsay sold 2,247 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction of $94,688.58. Following the sale, the chief accounting officer now owns 87,735 shares of the company’s stock, valued at $3,697,152.90. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the transaction, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,128 shares of company stock worth $4,980,404. Corporate insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Several large investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc lifted its stake in shares of Maplebear by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock valued at $331,000 after purchasing an additional 286 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after buying an additional 490 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in Maplebear by 5.1% in the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock worth $493,000 after buying an additional 584 shares during the last quarter. Pier Capital LLC boosted its stake in Maplebear by 0.4% during the third quarter. Pier Capital LLC now owns 151,604 shares of the company’s stock worth $6,176,000 after buying an additional 616 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Maplebear during the third quarter valued at $33,000. 63.09% of the stock is owned by institutional investors.

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.