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

Maplebear (NASDAQ:CART) released its quarterly earnings results on Wednesday. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.39, Briefing.com reports. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $794.08 million. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year.

Maplebear Stock Performance

Shares of CART stock traded down $1.15 during mid-day trading on Thursday, hitting $36.33. 5,471,156 shares of the stock were exchanged, compared to its average volume of 4,111,271. The stock’s fifty day simple moving average is $36.05 and its two-hundred day simple moving average is $29.09. Maplebear has a 12-month low of $22.13 and a 12-month high of $42.95.

Analyst Upgrades and Downgrades

CART has been the topic of a number of research reports. Barclays upped their price target on Maplebear from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday. Benchmark restated a “hold” rating on shares of Maplebear in a research note on Tuesday. Fox Advisors cut Maplebear from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 1st. Wolfe Research upped their price target on Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Finally, Oppenheimer increased their price objective on Maplebear from $36.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $40.00.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 12,113 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.33, for a total transaction of $415,839.29. Following the completion of the sale, the chief accounting officer now owns 114,205 shares in the company, valued at $3,920,657.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Fidji Simo sold 82,461 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $38.07, for a total value of $3,139,290.27. Following the completion of the sale, the chief executive officer now owns 926,654 shares in the company, valued at $35,277,717.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Alan Ramsay sold 12,113 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.33, for a total transaction of $415,839.29. Following the completion of the sale, the chief accounting officer now owns 114,205 shares of the company’s stock, valued at approximately $3,920,657.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 2,157,745 shares of company stock valued at $61,771,955 and have sold 1,055,899 shares valued at $30,422,265. Corporate insiders own 36.00% of the company’s stock.

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.