Maplebear (NASDAQ:CART) PT Raised to $48.00 at Oppenheimer

Maplebear (NASDAQ:CART) had its price target boosted by equities research analysts at Oppenheimer from $36.00 to $48.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 40.64% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Wolfe Research boosted their target price on Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Sanford C. Bernstein raised Maplebear from a “market perform” rating to an “outperform” rating and raised their target price for the company from $30.00 to $43.00 in a report on Thursday, March 14th. Robert W. Baird upped their price target on shares of Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. BMO Capital Markets began coverage on shares of Maplebear in a research note on Tuesday, January 9th. They issued a “market perform” rating and a $26.00 price objective for the company. Finally, Macquarie started coverage on shares of Maplebear in a research report on Monday, March 25th. They set an “outperform” rating and a $42.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.79.

Maplebear Stock Down 1.0 %

Shares of NASDAQ CART opened at $34.13 on Monday. The stock has a fifty day moving average price of $35.45 and a 200 day moving average price of $28.68. Maplebear has a 1-year low of $22.13 and a 1-year high of $42.95.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.52. The firm had revenue of $803.00 million during the quarter, compared to analyst estimates of $804.62 million. The business’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts expect that Maplebear will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Maplebear news, Director Jeffrey D. Jordan sold 760,479 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $26.01, for a total transaction of $19,780,058.79. Following the transaction, the director now owns 20,783 shares of the company’s stock, valued at approximately $540,565.83. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, General Counsel Morgan Fong sold 18,687 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $34.86, for a total value of $651,428.82. Following the sale, the general counsel now directly owns 418,973 shares of the company’s stock, valued at $14,605,398.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey D. Jordan sold 760,479 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $26.01, for a total transaction of $19,780,058.79. Following the completion of the sale, the director now owns 20,783 shares of the company’s stock, valued at $540,565.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 2,157,745 shares of company stock worth $61,771,955 and have sold 1,027,279 shares worth $29,422,416.

Hedge Funds Weigh In On Maplebear

A number of hedge funds have recently made changes to their positions in CART. Parallel Advisors LLC boosted its holdings in Maplebear by 139.3% in the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after acquiring an additional 620 shares during the last quarter. Signaturefd LLC acquired a new position in shares of Maplebear in the 3rd quarter valued at about $30,000. Cantor Fitzgerald L. P. grew its holdings in shares of Maplebear by 389.5% during the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after purchasing an additional 2,489 shares during the period. Kapitalo Investimentos Ltda purchased a new position in Maplebear in the fourth quarter valued at approximately $69,000. Finally, Amalgamated Bank acquired a new position in Maplebear during the fourth quarter valued at approximately $94,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.