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

Maplebear (NASDAQ:CART) announced its quarterly 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. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million.

Maplebear Trading Down 2.5 %

NASDAQ CART traded down $1.05 during trading on Thursday, hitting $41.75. 1,198,122 shares of the company traded hands, compared to its average volume of 4,347,026. Maplebear has a 12 month low of $29.84 and a 12 month high of $53.44. The business has a fifty day simple moving average of $46.48 and a 200 day simple moving average of $42.68. The company has a market capitalization of $10.73 billion, a P/E ratio of 28.09, a PEG ratio of 1.19 and a beta of 1.07.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Oppenheimer lowered their target price on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday. Macquarie boosted their target price on Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Piper Sandler increased their price target on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Mizuho dropped their price objective on Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, JMP Securities lifted their target price on Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.80.

Insider Transactions at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the business’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 sale, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at $3,953,283.88. The trade was a 2.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Fidji Simo sold 20,750 shares of the company’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 value of $886,855.00. Following the completion of the sale, the chief executive officer now owns 1,771,993 shares in the company, valued at approximately $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,311 shares of company stock worth $1,088,636. Company 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.