5 Best New Stocks To Buy According To Analysts

4. Maplebear Inc. (NASDAQ:CART)

IPO Date: 09/19/2023

Number of Hedge Fund Holders: 38

Average Analyst Price Target Upside: 18.86%

Maplebear Inc. (NASDAQ:CART) is a California-based company that offers online grocery shopping services in North America through a mobile application and website. Maplebear Inc. (NASDAQ:CART) was held by 38 hedge funds in the fourth quarter of 2023 and the stakes amounted to $1.36 billion. D1 Capital Partners is the most prominent shareholder of the company and has a position worth $678.493 million as of Q4 of 2023.

As of May 10, 27 Wall Street analysts have covered Maplebear Inc. (NASDAQ:CART), and 14 keep Buy-equivalent ratings on the stock. The average price target of $41.53 implies an upside of 18.86% from the stock’s current price. The company is one of the best new stocks to buy according to analysts.

On May 8, Maplebear Inc. (NASDAQ:CART) reported first-quarter earnings. The GAAP EPS beat the market consensus by $0.45 at $0.43. The revenue beat the estimates by $25.68 million and climbed 8.0% year-over-year to $820 million.

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