Maplebear (NASDAQ:CART) Announces Earnings Results

Maplebear (NASDAQ:CART) issued its quarterly earnings data 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 Price Performance

Shares of CART stock traded down $0.58 during trading hours on Tuesday, hitting $48.78. The company had a trading volume of 8,432,219 shares, compared to its average volume of 4,147,016. The stock has a market capitalization of $12.53 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07. The company’s fifty day moving average is $46.34 and its 200 day moving average is $42.56. Maplebear has a fifty-two week low of $29.72 and a fifty-two week high of $53.44.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CART. Bank of America increased their target price on Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday. BTIG Research upgraded shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Tuesday, January 14th. Macquarie boosted 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. increased their target price on Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Maplebear in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price target on the stock. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.04.

Insider Activity at Maplebear

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the completion of the transaction, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the sale, the chief accounting officer now directly owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders 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.