Maplebear (NASDAQ:CART) Posts Earnings Results, Beats Estimates By $0.16 EPS

Maplebear (NASDAQ:CART) announced its earnings results on Tuesday. The company reported $0.53 EPS for the quarter, beating 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%.

Maplebear Trading Down 1.2 %

Shares of NASDAQ:CART traded down $0.58 during midday trading on Tuesday, reaching $48.78. The company had a trading volume of 8,980,691 shares, compared to its average volume of 4,227,719. Maplebear has a 52-week low of $29.72 and a 52-week high of $53.44. The company’s 50 day moving average price is $46.34 and its 200 day moving average price is $42.56. The stock has a market cap of $12.53 billion, a P/E ratio of 32.74, a P/E/G ratio of 1.19 and a beta of 1.07.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CART shares. Bank of America increased their price target on Maplebear from $51.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday. Macquarie increased their target price on shares of Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. lifted their price target on shares of Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft began coverage on shares of Maplebear in a report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price objective on the stock. Finally, Stifel Nicolaus raised their target price on Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Thirteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $49.04.

Insider Activity at Maplebear

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the 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 sale, the chief executive officer now owns 1,771,993 shares in the company, valued at $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Alan Ramsay sold 2,247 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $42.14, for a total value of $94,688.58. Following the completion of the transaction, the chief accounting officer now directly owns 87,735 shares of the company’s stock, valued at $3,697,152.90. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,311 shares of company stock worth $1,088,636. Insiders own 36.00% of the company’s stock.

About Maplebear

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.