Maplebear (NASDAQ:CART) Releases Earnings Results, Beats Expectations By $0.20 EPS

Maplebear (NASDAQ:CART) posted its quarterly earnings data on Tuesday. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20, Briefing.com reports. Maplebear had a return on equity of 13.32% and a net margin of 13.37%. The company had revenue of $852.00 million for the quarter, compared to the consensus estimate of $844.03 million. During the same quarter in the previous year, the business earned ($20.86) EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year.

Maplebear Stock Performance

CART opened at $43.02 on Thursday. The company has a market cap of $11.22 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 1.50 and a beta of 1.12. The stock has a 50-day moving average of $41.66 and a 200-day moving average of $36.46. Maplebear has a 52-week low of $22.13 and a 52-week high of $50.01.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CART. Barclays lifted their target price on Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday. Stifel Nicolaus lifted their target price on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wedbush lifted their target price on Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of Maplebear in a report on Wednesday. Finally, Bank of America lifted their target price on Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday. Twelve equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and a consensus price target of $46.95.

Insider Activity at Maplebear

In related news, CEO Fidji Simo sold 33,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the completion of the sale, the chief executive officer now owns 1,844,778 shares in the company, valued at $65,065,320.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Maplebear news, CEO Fidji Simo sold 33,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total value of $1,163,910.00. Following the completion of the sale, the chief executive officer now owns 1,844,778 shares in the company, valued at approximately $65,065,320.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 2,486 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $41.39, for a total value of $102,895.54. Following the completion of the sale, the chief accounting officer now owns 99,225 shares of the company’s stock, valued at $4,106,922.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,710 shares of company stock worth $4,978,164 in the last 90 days. 36.00% of the stock is owned by company insiders.

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.