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

Maplebear (NASDAQ:CART) posted its quarterly earnings results on Tuesday. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.16, Zacks reports. Maplebear had a net margin of 13.37% and a return on equity of 13.78%.

Maplebear Trading Down 1.2 %

NASDAQ CART traded down $0.58 on Tuesday, hitting $48.78. 8,432,219 shares of the company’s stock traded hands, compared to its average volume of 4,147,016. The firm’s 50-day moving average price is $46.34 and its two-hundred day moving average price is $42.56. The firm has a market capitalization of $12.53 billion, a PE ratio of 32.74, a P/E/G ratio of 1.19 and a beta of 1.07. Maplebear has a 1-year low of $29.72 and a 1-year high of $53.44.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BTIG Research raised Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Tuesday, January 14th. Stifel Nicolaus lifted their price objective on Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, October 28th. Mizuho initiated coverage on shares of Maplebear in a research note on Tuesday, January 14th. They issued an “outperform” rating and a $55.00 price objective for the company. Wells Fargo & Company started coverage on shares of Maplebear in a research report on Friday, January 10th. They set an “equal weight” rating and a $47.00 target price on the stock. Finally, Bank of America upped their price target on shares of Maplebear from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Tuesday. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.04.

Insider Buying and Selling

In other news, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the sale, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction of $94,688.58. Following the transaction, the chief accounting officer now directly owns 87,735 shares of the company’s stock, valued at approximately $3,697,152.90. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,311 shares of company stock valued at $1,088,636 over the last 90 days. Insiders own 36.00% 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.