Maplebear (NASDAQ:CART) Stock Rating Upgraded by Mizuho

Mizuho upgraded shares of Maplebear (NASDAQ:CART) to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

A number of other brokerages also recently commented on CART. BTIG Research raised shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Tuesday. Jefferies Financial Group started coverage on shares of Maplebear in a report on Wednesday, October 16th. They set a “hold” rating and a $43.00 price target on the stock. Macquarie increased their price objective on Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. JMP Securities boosted their target price on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley raised their price target on Maplebear from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.31.

Maplebear Stock Down 2.9 %

Shares of Maplebear stock opened at $45.11 on Monday. Maplebear has a 12-month low of $22.70 and a 12-month high of $50.01. The firm has a market capitalization of $11.59 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04. The stock’s fifty day moving average is $43.61 and its 200-day moving average is $39.57.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.20. The company had revenue of $852.00 million for the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned ($20.86) EPS. Analysts expect that Maplebear will post 1.4 EPS for the current year.

Insider Buying and Selling at Maplebear

In related news, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the transaction, the chief executive officer now directly owns 1,771,993 shares in the company, valued at $75,734,980.82. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Alan Ramsay sold 2,247 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $42.14, for a total value of $94,688.58. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 112,128 shares of company stock valued at $4,980,404 in the last 90 days. 36.00% of the stock is currently owned by insiders.

Institutional Trading of Maplebear

A number of institutional investors and hedge funds have recently modified their holdings of CART. Victory Capital Management Inc. boosted its stake in Maplebear by 144.7% during the second quarter. Victory Capital Management Inc. now owns 36,785 shares of the company’s stock worth $1,182,000 after buying an additional 21,755 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Maplebear during the 2nd quarter worth about $1,933,000. American Century Companies Inc. lifted its holdings in shares of Maplebear by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 131,707 shares of the company’s stock worth $4,233,000 after acquiring an additional 16,783 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Maplebear during the 2nd quarter valued at about $22,816,000. Finally, Amalgamated Bank increased its stake in Maplebear by 545.2% in the second quarter. Amalgamated Bank now owns 9,427 shares of the company’s stock valued at $303,000 after acquiring an additional 7,966 shares during the period. 63.09% of the stock is currently 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.