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

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

Maplebear Price Performance

Shares of NASDAQ:CART opened at $48.78 on Wednesday. The firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07. The business’s 50 day simple moving average is $46.46 and its 200-day simple moving average is $42.68. Maplebear has a 12 month low of $29.72 and a 12 month high of $53.44.

Insider Activity at Maplebear

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the transaction, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,311 shares of company stock valued at $1,088,636 in the last ninety days. Corporate insiders own 36.00% of the company’s stock.

Analyst Ratings Changes

CART has been the subject of a number of recent research reports. Loop Capital increased their price target on shares of Maplebear from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays upped their target price on shares of Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday. BMO Capital Markets raised their price target on Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th. BTIG Research raised Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company initiated coverage on Maplebear in a research report on Friday, January 10th. They set an “equal weight” rating and a $47.00 price objective for the company. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.12.

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.