Maplebear (CART) Projected to Post Earnings on Tuesday

Maplebear (NASDAQ:CART) is anticipated to announce its earnings results before the market opens on Tuesday, February 11th. Analysts expect the company to announce earnings of $0.36 per share and revenue of $889.51 million for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.20. The company had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($20.86) EPS. On average, analysts expect Maplebear to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Maplebear Price Performance

Shares of CART stock opened at $48.13 on Tuesday. The stock’s fifty day simple moving average is $44.10 and its 200 day simple moving average is $40.69. Maplebear has a one year low of $23.59 and a one year high of $50.01. The firm has a market cap of $12.36 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 1.09 and a beta of 1.07.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CART. Loop Capital boosted their target price 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. JPMorgan Chase & Co. upped their price objective on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. 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 research note on Wednesday, November 13th. Morgan Stanley increased their price target on Maplebear from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company assumed coverage on Maplebear in a research report on Friday, January 10th. They issued an “equal weight” rating and a $47.00 price objective for the company. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.96.

Insider Activity

In related news, General Counsel Morgan Fong sold 29,253 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.03, for a total value of $1,405,021.59. Following the completion of the sale, the general counsel now directly owns 258,406 shares of the company’s stock, valued at $12,411,240.18. This represents a 10.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the sale, the chief accounting officer now directly owns 85,421 shares of the company’s stock, valued at $3,953,283.88. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,808 shares of company stock valued at $3,569,808. 36.00% of the stock is currently owned by insiders.

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.