Wedbush Weighs in on Maplebear’s Q4 Earnings (NASDAQ:CART)

Maplebear Inc. (NASDAQ:CART) – Investment analysts at Wedbush lifted their Q4 2024 earnings estimates for shares of Maplebear in a research note issued to investors on Wednesday, November 13th. Wedbush analyst S. Devitt now anticipates that the company will earn $0.37 per share for the quarter, up from their prior forecast of $0.33. Wedbush currently has a “Neutral” rating and a $38.00 price target on the stock. The consensus estimate for Maplebear’s current full-year earnings is $1.17 per share. Wedbush also issued estimates for Maplebear’s Q1 2025 earnings at $0.38 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.37 EPS and Q4 2025 earnings at $0.42 EPS.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.32% and a net margin of 13.37%. The company had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. During the same period in the prior year, the company earned ($20.86) earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year.

Other research analysts have also recently issued research reports about the stock. Piper Sandler upped their price target on shares of Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday. Oppenheimer upped their target price on shares of Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup lifted their price target on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Maplebear in a research report on Monday, October 7th. Finally, Barclays lifted their target price on Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Maplebear presently has a consensus rating of “Moderate Buy” and an average target price of $46.95.

Maplebear Stock Performance

NASDAQ CART opened at $43.02 on Thursday. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 1.50 and a beta of 1.12. The business has a 50 day simple moving average of $41.85 and a 200 day simple moving average of $36.51. Maplebear has a 52-week low of $22.13 and a 52-week high of $50.01.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 2,486 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $41.39, for a total value of $102,895.54. Following the transaction, the chief accounting officer now owns 99,225 shares of the company’s stock, valued at approximately $4,106,922.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Fidji Simo sold 33,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the transaction, the chief executive officer now directly owns 1,844,778 shares of the company’s stock, valued at approximately $65,065,320.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $41.39, for a total transaction of $102,895.54. Following the completion of the sale, the chief accounting officer now owns 99,225 shares of the company’s stock, valued at $4,106,922.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 118,710 shares of company stock worth $4,978,164 over the last three months. Insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Maplebear by 239.1% in the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock worth $7,961,000 after purchasing an additional 150,544 shares during the period. Assenagon Asset Management S.A. bought a new position in Maplebear in the 2nd quarter valued at about $8,293,000. Investment House LLC acquired a new position in shares of Maplebear in the 2nd quarter valued at approximately $750,000. Eos Management L.P. raised its position in shares of Maplebear by 98.1% in the 3rd quarter. Eos Management L.P. now owns 31,508 shares of the company’s stock valued at $1,284,000 after buying an additional 15,600 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of Maplebear by 141.8% during the 3rd quarter. Diversified Trust Co now owns 24,563 shares of the company’s stock worth $1,001,000 after acquiring an additional 14,404 shares during the period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Company Profile

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.