Mizuho Lowers Maplebear (NASDAQ:CART) Price Target to $52.00

Maplebear (NASDAQ:CART) had its price objective reduced by Mizuho from $55.00 to $52.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

CART has been the subject of a number of other reports. BTIG Research upgraded shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Tuesday, January 14th. Wedbush decreased their price objective on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday. Macquarie upped their price objective on shares of Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Morgan Stanley upped their price objective on shares of Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Maplebear in a research report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price target for the company. Thirteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and a consensus price target of $49.92.

Maplebear Price Performance

NASDAQ CART opened at $41.09 on Wednesday. The company has a market capitalization of $10.56 billion, a PE ratio of 27.58, a P/E/G ratio of 1.19 and a beta of 1.07. The company has a fifty day moving average of $46.43 and a 200 day moving average of $42.72. Maplebear has a 1 year low of $29.84 and a 1 year high of $53.44.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The company had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Research analysts expect that Maplebear will post 1.43 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the sale, the chief executive officer now owns 1,662,692 shares in the company, valued at $72,011,190.52. This represents a 1.23 % 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, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,061 shares of company stock worth $1,987,318 over the last 90 days. 36.00% of the stock is owned by insiders.

Institutional Trading of Maplebear

Large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its stake in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after acquiring an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Maplebear during the third quarter valued at $33,000. Allworth Financial LP boosted its stake in shares of Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after acquiring an additional 420 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after acquiring an additional 717 shares during the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Maplebear during the fourth quarter valued at $46,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

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.