Maplebear (CART) Scheduled to Post Quarterly Earnings on Wednesday

Maplebear (NASDAQ:CART) will be posting its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect Maplebear to post earnings of $0.03 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.52. The business had revenue of $803.00 million during the quarter, compared to the consensus estimate of $804.62 million. The company’s revenue for the quarter was up 6.1% 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 Price Performance

NASDAQ:CART opened at $36.70 on Monday. Maplebear has a one year low of $22.13 and a one year high of $42.95. The company’s 50-day simple moving average is $35.82 and its 200 day simple moving average is $28.92.

Insider Activity at Maplebear

In other news, major shareholder Us (Ttgp) Ltd. Sc bought 1,036,683 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were acquired at an average cost of $27.90 per share, with a total value of $28,923,455.70. Following the completion of the transaction, the insider now owns 1,036,683 shares of the company’s stock, valued at approximately $28,923,455.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Maplebear news, CEO Fidji Simo sold 82,461 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $38.07, for a total transaction of $3,139,290.27. Following the completion of the sale, the chief executive officer now directly owns 926,654 shares of the company’s stock, valued at $35,277,717.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $27.90 per share, for a total transaction of $28,923,455.70. Following the completion of the transaction, the insider now directly owns 1,036,683 shares of the company’s stock, valued at approximately $28,923,455.70. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 2,157,745 shares of company stock worth $61,771,955 and sold 1,055,899 shares worth $30,422,265. 4.02% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on CART shares. Morgan Stanley initiated coverage on Maplebear in a research note on Tuesday, January 30th. They issued an “equal weight” rating and a $28.00 price target on the stock. Macquarie started coverage on Maplebear in a report on Monday, March 25th. They set an “outperform” rating and a $42.00 price target for the company. Wolfe Research upped their price target on shares of Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Robert W. Baird increased their price objective on shares of Maplebear from $31.00 to $44.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Finally, Benchmark cut shares of Maplebear from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.79.

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.