Maplebear Inc. [NASDAQ: CART] gained 1.51% on the last trading session, reaching $37.09 price per share at the time. The company report on March 27, 2024 at 8:00 AM that INSTACART TO POWER THE NEXT GENERATION OF INTERACTIVE FOOD EXPERIENCES WITH INTRODUCTION OF THE INSTACART DEVELOPER PLATFORM.
Grocery Technology Company Invites Third Parties to Join The New York Times, WeightWatchers and GE Appliances in New API Program.
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Instacart (Nasdaq: CART), the leading grocery technology company in North America, today announced the launch of the Instacart Developer Platform (IDP), a new publicly available API program which uses Instacart’s industry-leading online grocery platform to supercharge third-party digital experiences across food, health, wellness, and many other spaces. IDP will enable third parties to integrate the functionality of Instacart inside their websites and apps, and over time, will unlock:.
If compared to the average trading volume of 4.13M shares, CART reached a trading volume of 4602751 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Maplebear Inc. [CART]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CART shares is $36.35 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CART stock is a recommendation set at 2.12. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Macquarie have made an estimate for Maplebear Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 25, 2024. While these analysts kept the previous recommendation, Bernstein raised their target price from $30 to $43. The new note on the price target was released on March 14, 2024, representing the official price target for Maplebear Inc. stock. Previously, the target price had yet another raise to $28, while Morgan Stanley analysts kept a Equal-Weight rating on CART stock.
The Average True Range (ATR) for Maplebear Inc. is set at 1.55, with the Price to Sales ratio for CART stock in the period of the last 12 months amounting to 3.40. The Price to Book ratio for the last quarter was 2.76, with the Price to Cash per share for the same quarter was set at 8.32. Price to Free Cash Flow for CART in the course of the last twelve months was 19.45 with Quick ratio for the last quarter at 4.51.
Trading performance analysis for CART stock
Maplebear Inc. [CART] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.60. With this latest performance, CART shares gained by 17.52% in over the last four-week period, additionally plugging by 24.09% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CART stock in for the last two-week period is set at 67.10, with the RSI for the last a single of trading hit 62.99, and the three-weeks RSI is set at 67.61 for Maplebear Inc. [CART]. The present Moving Average for the last 50 days of trading for this stock 30.30, while it was recorded at 37.40 for the last single week of trading.
Maplebear Inc. [CART]: A deeper dive into fundamental analysis
Maplebear Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.51 and a Current Ratio set at 4.51.
An analysis of Institutional ownership at Maplebear Inc. [CART]
The top three institutional holders of CART stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CART stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CART stock with ownership which is approximately 5.8325%.
