Maplebear (NASDAQ:CART) Announces Quarterly Earnings Results, Beats Estimates By $0.39 EPS

Maplebear (NASDAQ:CART) issued its quarterly earnings data on Wednesday. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.39, Briefing.com reports. The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $794.08 million. The company’s quarterly revenue was up 8.0% on a year-over-year basis.

Maplebear Stock Performance

NASDAQ:CART traded down $1.15 during mid-day trading on Thursday, hitting $36.33. 5,471,156 shares of the company traded hands, compared to its average volume of 4,111,271. The stock’s fifty day moving average price is $36.05 and its 200-day moving average price is $29.09. Maplebear has a one year low of $22.13 and a one year high of $42.95.

Insider Buying and Selling at Maplebear

In related news, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $27.90 per share, with a total value of $28,923,455.70. Following the completion of the acquisition, 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other Maplebear news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average cost 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 $28,923,455.70. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey D. Jordan sold 760,479 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $26.01, for a total value of $19,780,058.79. Following the completion of the transaction, the director now owns 20,783 shares in the company, valued at $540,565.83. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 2,157,745 shares of company stock valued at $61,771,955 and sold 1,055,899 shares valued at $30,422,265. 36.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Maplebear in a research note on Tuesday. Robert W. Baird raised their target price on Maplebear from $31.00 to $44.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. BMO Capital Markets raised their target price on Maplebear from $26.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday. Stifel Nicolaus raised their target price on Maplebear from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wolfe Research raised their target price on Maplebear from $35.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.00.

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.