Maplebear (NASDAQ:CART) Upgraded to “Strong-Buy” at Mizuho

Maplebear (NASDAQ:CART) was upgraded by research analysts at Mizuho to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other research analysts have also commented on CART. JPMorgan Chase & Co. raised their price target on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Macquarie raised their target price on Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Wells Fargo & Company assumed coverage on shares of Maplebear in a research note on Friday, January 10th. They set an “equal weight” rating and a $47.00 price target on the stock. Needham & Company LLC raised shares of Maplebear from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Monday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Maplebear in a research note on Monday, October 7th. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.31.

Maplebear Price Performance

NASDAQ CART opened at $46.45 on Monday. The stock has a market capitalization of $11.93 billion, a P/E ratio of 31.17, a PEG ratio of 1.08 and a beta of 1.04. The firm’s 50-day moving average is $43.61 and its two-hundred day moving average is $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. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. During the same period in the prior year, the business posted ($20.86) EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, analysts anticipate that Maplebear will post 1.4 EPS for the current year.

Insider Buying and Selling

In other Maplebear news, CAO Alan Ramsay sold 2,559 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $42.97, for a total transaction of $109,960.23. Following the transaction, the chief accounting officer now owns 96,666 shares of the company’s stock, valued at approximately $4,153,738.02. This trade represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total value of $886,855.00. Following the completion of the sale, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 112,128 shares of company stock worth $4,980,404 in the last ninety days. 36.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Maplebear

Large investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Maplebear in the 3rd quarter valued at $33,000. Huntington National Bank purchased a new position in Maplebear during the 3rd quarter worth $54,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Maplebear in the third quarter valued at $74,000. Quarry LP raised its holdings in shares of Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after buying an additional 2,865 shares during the last quarter. Finally, Vinva Investment Management Ltd purchased a new stake in shares of Maplebear in the third quarter valued at about $212,000. 63.09% of the stock is owned by institutional investors and hedge funds.

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.