Maplebear (NASDAQ:CART) Announces Earnings Results

Maplebear (NASDAQ:CART - Get Free Report) released its earnings results on Tuesday. The company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.16, Zacks reports. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million.

Maplebear Price Performance

CART stock traded up $0.35 on Friday, reaching $41.09. 5,558,472 shares of the company traded hands, compared to its average volume of 4,521,604. The firm has a fifty day simple moving average of $46.43 and a 200-day simple moving average of $42.80. The company has a market cap of $10.56 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07. Maplebear has a one year low of $29.84 and a one year high of $53.44.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the transaction, the chief executive officer now directly owns 1,662,692 shares in the company, valued at $72,011,190.52. This trade represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of the firm's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the transaction, the chief accounting officer now owns 87,735 shares of the company's stock, valued at $3,697,152.90. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,061 shares of company stock valued at $1,987,318. 36.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on CART shares. Wedbush lowered their price objective on Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a research report on Wednesday. JMP Securities upped their price target on shares of Maplebear from $42.00 to $51.00 and gave the company a "market outperform" rating in a report on Wednesday, November 13th. Benchmark reiterated a "hold" rating on shares of Maplebear in a report on Wednesday. Loop Capital upped their price objective on shares of Maplebear from $49.00 to $56.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Finally, BMO Capital Markets upped their price objective on shares of Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a research note on Wednesday. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $49.92.

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.