Wed Sep 25 07:17:11 UTC 2024: ## Maplebear (CART) Receives Mixed Reviews from Analysts, Insider Selling Raises Concerns

**San Francisco, CA – September 25, 2024** – Maplebear (NASDAQ:CART), the online grocery shopping giant, has been receiving mixed signals from analysts. While several firms remain bullish on the company, issuing “buy” ratings and raising price targets, others are more cautious, issuing “hold” ratings.

Raymond James initiated coverage of Maplebear with a “market perform” rating, while Piper Sandler lifted their price objective to $50.00 and maintained an “overweight” rating. Gordon Haskett upgraded Maplebear to a “buy” rating, increasing their price target to $45.00. However, Benchmark reconfirmed their “hold” rating, and KeyCorp initiated coverage with a “sector weight” rating.

Despite the mixed analyst sentiment, Maplebear recently exceeded earnings expectations for the quarter ending August 6th, reporting $0.20 EPS, exceeding the consensus estimate by $0.07. Revenue also surpassed expectations, reaching $823.00 million.

However, recent insider selling has raised concerns among investors. General Counsel Morgan Fong sold 10,992 shares, and CAO Alan Ramsay sold 2,626 shares, totaling over $2.5 million in stock sold by insiders in the past 90 days.

Institutional investors have also been active in Maplebear, with several firms increasing their holdings, including Parallel Advisors LLC, Treasurer of the State of North Carolina, Honeycomb Asset Management LP, and Cantor Fitzgerald L. P. Nomura Holdings Inc. also purchased a new stake in the company.

Maplebear continues to be a significant player in the online grocery delivery market, offering services through its mobile app and website. The company also provides software-as-a-service solutions to retailers.

Overall, Maplebear’s future remains uncertain, with analysts offering a mixed outlook. Recent insider selling has also added to investor concerns. However, the company’s strong earnings performance suggests it remains a force in the competitive grocery delivery space.

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