Maplebear (CART) Expected to Announce Earnings on Tuesday

Maplebear (NASDAQ:CART) is anticipated to issue its quarterly earnings data after the market closes on Tuesday, February 25th. Analysts expect the company to announce earnings of $0.37 per share and revenue of $889.53 million for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Maplebear Stock Up 2.0 %

Shares of Maplebear stock opened at $50.97 on Tuesday. The business has a fifty day simple moving average of $45.39 and a 200-day simple moving average of $41.86. The firm has a market cap of $13.09 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07. Maplebear has a fifty-two week low of $24.52 and a fifty-two week high of $51.33.

Insider Buying and Selling

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,771,993 shares in the company, valued at $75,734,980.82. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total transaction of $92,261.82. Following the completion of the transaction, the chief accounting officer now directly owns 89,982 shares in the company, valued at approximately $3,694,660.92. This represents a 2.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,555 shares of company stock worth $2,164,787. Corporate insiders own 36.00% of the company’s stock.

Analysts Set New Price Targets

CART has been the topic of several recent analyst reports. BTIG Research upgraded Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Tuesday, January 14th. Oppenheimer upped their price target on shares of Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Seaport Res Ptn raised shares of Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. JMP Securities boosted their target price on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Finally, Robert W. Baird raised their target price on Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and an average target price of $48.96.

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.