Maplebear (NASDAQ:CART) Issues Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Maplebear (NASDAQ:CART) announced its quarterly earnings data on Tuesday. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16, Zacks reports. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million.

Maplebear Stock Down 2.5 %

Shares of CART stock traded down $1.05 on Thursday, reaching $41.75. 1,198,122 shares of the stock were exchanged, compared to its average volume of 4,347,026. The stock has a market cap of $10.73 billion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07. The firm has a 50 day moving average of $46.48 and a two-hundred day moving average of $42.68. Maplebear has a 1-year low of $29.84 and a 1-year high of $53.44.

Insider Buying and Selling at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the completion of the transaction, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,311 shares of company stock valued at $1,088,636. Company insiders own 36.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Piper Sandler raised their target price on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Wedbush reduced their price target on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday. BMO Capital Markets upped their price target on Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Wednesday. Wells Fargo & Company initiated coverage on Maplebear in a research note on Friday, January 10th. They issued an “equal weight” rating and a $47.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $56.00 target price on shares of Maplebear in a research report on Wednesday. Thirteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Maplebear has an average rating of “Moderate Buy” and a consensus target price of $49.80.

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.