Maplebear (CART) to Release Quarterly Earnings on Tuesday

Maplebear (NASDAQ:CART) will be announcing its earnings results after the market closes on Tuesday, August 6th. Analysts expect the company to announce earnings of $0.13 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Maplebear (NASDAQ:CART) last issued its earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.39. The firm had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $794.08 million. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts expect Maplebear to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Maplebear Stock Down 4.5 %

Shares of CART opened at $31.55 on Monday. The stock’s fifty day simple moving average is $33.27 and its 200 day simple moving average is $32.97. Maplebear has a twelve month low of $22.13 and a twelve month high of $42.95.

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 9,506 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $332,900.12. Following the completion of the transaction, the general counsel now directly owns 372,335 shares of the company’s stock, valued at $13,039,171.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Alan Ramsay sold 2,550 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $33.21, for a total value of $84,685.50. Following the completion of the sale, the chief accounting officer now owns 113,086 shares in the company, valued at approximately $3,755,586.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Morgan Fong sold 9,506 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $35.02, for a total transaction of $332,900.12. Following the completion of the sale, the general counsel now owns 372,335 shares of the company’s stock, valued at approximately $13,039,171.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,388 shares of company stock valued at $1,795,513. Corporate insiders own 36.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. BMO Capital Markets increased their target price on Maplebear from $26.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, May 9th. Morgan Stanley lifted their price target on Maplebear from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Stifel Nicolaus lifted their price target on Maplebear from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Citigroup lifted their target price on Maplebear from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, Wolfe Research assumed coverage on Maplebear in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.60.

About Maplebear

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.