Maplebear (NASDAQ:CART) Announces Earnings Results

Maplebear (NASDAQ:CART) released its quarterly earnings results on Tuesday. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $889.98 million.

Maplebear Trading Down 1.2 %

NASDAQ CART opened at $48.78 on Wednesday. The stock has a market cap of $12.53 billion, a P/E ratio of 32.74, a PEG ratio of 1.19 and a beta of 1.07. The company’s fifty day simple moving average is $46.46 and its 200-day simple moving average is $42.68. Maplebear has a 52 week low of $29.72 and a 52 week high of $53.44.

Insider Activity at Maplebear

In other news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of 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 trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 25,311 shares of company stock valued at $1,088,636. Corporate insiders own 36.00% of the company’s stock.

Analyst Ratings Changes

CART has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $56.00 target price on shares of Maplebear in a research report on Wednesday. Robert W. Baird lifted their price objective on Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Oppenheimer upped their target price on Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their price target on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler increased their price objective on shares of Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.12.

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.