Maplebear Inc. to Post Q2 2024 Earnings of $0.14 Per Share, KeyCorp Forecasts (NASDAQ:CART)

Maplebear Inc. (NASDAQ:CART) – Analysts at KeyCorp issued their Q2 2024 EPS estimates for Maplebear in a research note issued to investors on Wednesday, July 10th. KeyCorp analyst J. Patterson expects that the company will post earnings of $0.14 per share for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Maplebear’s current full-year earnings is $1.01 per share. KeyCorp also issued estimates for Maplebear’s Q3 2024 earnings at $0.14 EPS, Q4 2024 earnings at $0.26 EPS, FY2024 earnings at $0.96 EPS, FY2025 earnings at $0.99 EPS and FY2026 earnings at $1.21 EPS.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.39. The firm had revenue of $820.00 million for the quarter, compared to the consensus estimate of $794.08 million. The firm’s quarterly revenue was up 8.0% on a year-over-year basis.

CART has been the topic of a number of other research reports. Benchmark reiterated a “hold” rating on shares of Maplebear in a research note on Tuesday, May 7th. Piper Sandler reissued an “overweight” rating and set a $47.00 price objective (up from $45.00) on shares of Maplebear in a report on Thursday, May 9th. Moffett Nathanson reaffirmed a “neutral” rating and issued a $37.00 price target (up from $36.00) on shares of Maplebear in a report on Thursday, April 11th. Fox Advisors cut Maplebear from an “overweight” rating to an “equal weight” rating in a report on Monday, April 1st. Finally, Citigroup lifted their price target on Maplebear from $42.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.25.

Maplebear Stock Up 5.1 %

Shares of CART stock opened at $36.51 on Monday. The firm’s fifty day simple moving average is $33.17 and its 200 day simple moving average is $31.97. Maplebear has a 1 year low of $22.13 and a 1 year high of $42.95.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CART. Walleye Capital LLC acquired a new position in shares of Maplebear during the 3rd quarter worth approximately $2,831,000. Wellington Management Group LLP acquired a new stake in shares of Maplebear during the 3rd quarter worth approximately $8,922,000. Hudson Bay Capital Management LP acquired a new stake in shares of Maplebear during the 3rd quarter worth approximately $904,000. International Assets Investment Management LLC acquired a new stake in shares of Maplebear during the 4th quarter worth approximately $110,000. Finally, Thrive Capital Management LLC acquired a new stake in shares of Maplebear during the 3rd quarter worth approximately $47,818,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Buying and Selling

In other news, CEO Fidji Simo sold 6,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $31.82, for a total value of $190,920.00. Following the sale, the chief executive officer now directly owns 1,995,167 shares of the company’s stock, valued at approximately $63,486,213.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Maplebear news, CEO Fidji Simo sold 6,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $31.82, for a total value of $190,920.00. Following the transaction, the chief executive officer now directly owns 1,995,167 shares of the company’s stock, valued at approximately $63,486,213.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Morgan Fong sold 18,687 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $34.86, for a total transaction of $651,428.82. Following the completion of the transaction, the general counsel now directly owns 418,973 shares in the company, valued at $14,605,398.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,863 shares of company stock valued at $2,997,421. Company insiders own 36.00% of the company’s stock.

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.