Maplebear (CART) Scheduled to Post Earnings on Wednesday

Maplebear (NASDAQ:CART) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.03 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.52. The company had revenue of $803.00 million during the quarter, compared to analysts’ expectations of $804.62 million. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts expect Maplebear to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Maplebear Trading Up 3.1 %

NASDAQ:CART opened at $36.70 on Monday. The firm has a fifty day simple moving average of $35.82 and a 200-day simple moving average of $28.92. Maplebear has a 12 month low of $22.13 and a 12 month high of $42.95.

Insiders Place Their Bets

In related news, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of Maplebear stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average price of $27.90 per share, for a total transaction of $28,923,455.70. Following the acquisition, the insider now directly owns 1,036,683 shares in the company, valued at $28,923,455.70. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Maplebear news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average cost of $27.90 per share, for a total transaction 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Morgan Fong sold 98,200 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.32, for a total transaction of $3,370,224.00. Following the completion of the sale, the general counsel now owns 283,068 shares in the company, valued at $9,714,893.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 2,157,745 shares of company stock valued at $61,771,955 and have sold 1,055,899 shares valued at $30,422,265. 4.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Maplebear from $35.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. BMO Capital Markets began coverage on shares of Maplebear in a research note on Tuesday, January 9th. They issued a “market perform” rating and a $26.00 price objective on the stock. Fox Advisors downgraded Maplebear from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 1st. Robert W. Baird lifted their price target on Maplebear from $31.00 to $44.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Finally, Benchmark cut shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and an average price target of $38.79.

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.