Maplebear (NASDAQ:CART) Posts Earnings Results, Beats Expectations By $0.20 EPS

Maplebear (NASDAQ:CART - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.22 by $0.20, Briefing.com reports. Maplebear had a return on equity of 13.32% and a net margin of 13.37%. The firm had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. During the same period in the prior year, the business earned ($20.86) EPS. The firm's revenue was up 11.5% compared to the same quarter last year.

Maplebear Stock Down 11.0 %

Shares of Maplebear stock traded down $5.32 during trading on Wednesday, hitting $43.02. 11,960,825 shares of the company were exchanged, compared to its average volume of 3,967,722. Maplebear has a fifty-two week low of $22.13 and a fifty-two week high of $50.01. The firm has a 50 day moving average price of $41.66 and a 200 day moving average price of $36.46. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 1.50 and a beta of 1.12.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Maplebear from $44.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. BMO Capital Markets lifted their target price on shares of Maplebear from $39.00 to $48.00 and gave the company a "market perform" rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Maplebear from $47.00 to $52.00 and gave the stock an "overweight" rating in a research note on Wednesday. Raymond James assumed coverage on shares of Maplebear in a research report on Tuesday, September 24th. They issued a "market perform" rating for the company. Finally, Barclays lifted their price objective on Maplebear from $48.00 to $56.00 and gave the company an "overweight" rating in a report on Wednesday. Twelve investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $46.95.

Insider Buying and Selling at Maplebear

In other news, CEO Fidji Simo sold 33,000 shares of the business's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total value of $1,163,910.00. Following the completion of the transaction, the chief executive officer now directly owns 1,844,778 shares of the company's stock, valued at $65,065,320.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, General Counsel Morgan Fong sold 29,253 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the sale, the general counsel now owns 258,406 shares in the company, valued at approximately $12,411,240.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 33,000 shares of Maplebear stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the completion of the sale, the chief executive officer now directly owns 1,844,778 shares of the company's stock, valued at $65,065,320.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,710 shares of company stock worth $4,978,164. 36.00% of the stock is owned by insiders.

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.