Maplebear (NASDAQ:CART) Announces Quarterly Earnings Results

Maplebear (NASDAQ:CART) announced its quarterly 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 net margin of 13.37% and a return on equity of 13.78%.

Maplebear Stock Performance

CART stock traded down $0.58 on Tuesday, reaching $48.78. The company’s stock had a trading volume of 8,980,691 shares, compared to its average volume of 4,227,719. The business has a fifty day simple moving average of $46.34 and a two-hundred day simple moving average of $42.56. The firm has a market cap of $12.53 billion, a PE ratio of 32.74, a PEG ratio of 1.19 and a beta of 1.07. Maplebear has a 12-month low of $29.72 and a 12-month high of $53.44.

Insiders Place Their Bets

In related news, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction of $94,688.58. Following the transaction, the chief accounting officer now owns 87,735 shares in the company, valued at $3,697,152.90. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the sale, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,311 shares of company stock worth $1,088,636. 36.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CART has been the subject of several research analyst reports. Seaport Res Ptn raised Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft began coverage on Maplebear in a research report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price target for the company. Oppenheimer upped their price objective on shares of Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Macquarie raised their target price on shares of Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, Barclays boosted their price target on shares of Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.04.

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.