Q3 2024 EPS Estimates for Maplebear Inc. (NASDAQ:CART) Boosted by Wedbush

Maplebear Inc. (NASDAQ:CART) – Investment analysts at Wedbush boosted their Q3 2024 EPS estimates for Maplebear in a research note issued to investors on Wednesday, August 7th. Wedbush analyst S. Devitt now anticipates that the company will earn $0.12 per share for the quarter, up from their prior estimate of $0.10. Wedbush currently has a “Neutral” rating and a $38.00 price objective on the stock. The consensus estimate for Maplebear’s current full-year earnings is $1.02 per share. Wedbush also issued estimates for Maplebear’s Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.10 EPS and FY2025 earnings at $1.61 EPS.

Other equities analysts have also recently issued reports about the stock. KeyCorp began coverage on shares of Maplebear in a research report on Thursday, July 11th. They set a “sector weight” rating for the company. Benchmark reiterated a “hold” rating on shares of Maplebear in a report on Wednesday. Loop Capital increased their target price on Maplebear from $46.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Morgan Stanley increased their price objective on Maplebear from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Oppenheimer lifted their target price on shares of Maplebear from $36.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.70.

Maplebear Trading Down 0.7 %

Shares of CART stock traded down $0.22 during trading hours on Thursday, hitting $31.90. 2,855,478 shares of the company’s stock were exchanged, compared to its average volume of 4,129,516. Maplebear has a fifty-two week low of $22.13 and a fifty-two week high of $42.95. The firm has a 50 day moving average of $33.32 and a two-hundred day moving average of $33.06.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. The business had revenue of $823.00 million for the quarter, compared to analysts’ expectations of $806.35 million. The company’s quarterly revenue was up 14.9% compared to the same quarter last year.

Institutional Trading of Maplebear

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Capital LLC raised its holdings in Maplebear by 4.3% during the first quarter. Renaissance Capital LLC now owns 14,692 shares of the company’s stock worth $548,000 after purchasing an additional 607 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Maplebear by 139.3% in the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after acquiring an additional 620 shares during the period. nVerses Capital LLC boosted its position in shares of Maplebear by 1,600.0% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after purchasing an additional 1,600 shares in the last quarter. Cantor Fitzgerald L. P. increased its holdings in shares of Maplebear by 389.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after purchasing an additional 2,489 shares in the last quarter. Finally, Great Valley Advisor Group Inc. boosted its holdings in Maplebear by 32.1% during the second quarter. Great Valley Advisor Group Inc. now owns 10,300 shares of the company’s stock worth $331,000 after buying an additional 2,500 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 9,506 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total value of $332,900.12. Following the transaction, the general counsel now directly owns 372,335 shares in the company, valued at $13,039,171.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Alan Ramsay sold 2,550 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $33.21, for a total value of $84,685.50. Following the completion of the sale, the chief accounting officer now directly owns 113,086 shares of the company’s stock, valued at approximately $3,755,586.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 9,506 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $332,900.12. Following the transaction, the general counsel now owns 372,335 shares in the company, valued at approximately $13,039,171.70. The disclosure for this sale can be found here. Insiders sold a total of 53,388 shares of company stock valued at $1,795,513 in the last three months. 36.00% of the stock is owned by corporate insiders.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.