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

Maplebear (NASDAQ:CART) had its target price lowered by Mizuho from $55.00 to $52.00 in a report published on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other analysts also recently issued reports on CART. Bank of America raised their price objective on shares of Maplebear from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on shares of Maplebear in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price objective for the company. Benchmark reissued a “hold” rating on shares of Maplebear in a research note on Wednesday. Barclays raised their price objective on shares of Maplebear from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.92.

Maplebear Trading Up 0.9 %

Shares of NASDAQ:CART opened at $41.09 on Wednesday. Maplebear has a 12 month low of $29.84 and a 12 month high of $53.44. The company has a 50-day moving average price of $46.43 and a 200 day moving average price of $42.72. The company has a market cap of $10.56 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.19 and a beta of 1.07.

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

Insiders Place Their Bets

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the transaction, the chief executive officer now directly owns 1,662,692 shares of the company’s stock, valued at approximately $72,011,190.52. The trade was a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction on Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the transaction, the chief accounting officer now directly owns 87,735 shares in the company, valued at $3,697,152.90. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,061 shares of company stock valued at $1,987,318. 36.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Maplebear

Institutional investors and hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp grew its holdings in Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after purchasing 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 worth $33,000. Allworth Financial LP lifted 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 worth $37,000 after buying an additional 420 shares during the period. NewEdge Advisors LLC lifted 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 worth $40,000 after buying an additional 717 shares during the period. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Maplebear during the fourth quarter worth $46,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

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.