Maplebear (CART) Set to Announce Quarterly Earnings on Wednesday

Maplebear (NASDAQ:CART) is scheduled to issue 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. Individual interested in listening to the company’s earnings conference call can do so using this link.

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

Maplebear Stock Down 0.5 %

NASDAQ CART opened at $36.53 on Tuesday. Maplebear has a 1-year low of $22.13 and a 1-year high of $42.95. The company has a 50 day moving average of $35.93 and a 200-day moving average of $29.00.

Insider Transactions at Maplebear

In related news, CEO Fidji Simo sold 82,461 shares of Maplebear stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $38.07, for a total transaction of $3,139,290.27. Following the sale, the chief executive officer now directly owns 926,654 shares of the company’s stock, valued at approximately $35,277,717.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Alan Ramsay sold 12,178 shares of Maplebear stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $34.90, for a total transaction of $425,012.20. Following the sale, the chief accounting officer now directly owns 118,142 shares of the company’s stock, valued at $4,123,155.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Fidji Simo sold 82,461 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $38.07, for a total value of $3,139,290.27. Following the sale, the chief executive officer now owns 926,654 shares in the company, valued at $35,277,717.78. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 2,157,745 shares of company stock valued at $61,771,955 and sold 1,055,899 shares valued at $30,422,265. Company insiders own 36.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CART has been the topic of a number of recent analyst reports. Macquarie assumed coverage on Maplebear in a research note on Monday, March 25th. They issued an “outperform” rating and a $42.00 price objective on the stock. Wolfe Research increased their price objective on shares of Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Moffett Nathanson reaffirmed a “neutral” rating and issued a $37.00 target price (up from $36.00) on shares of Maplebear in a research note on Thursday, April 11th. Sanford C. Bernstein raised shares of Maplebear from a “market perform” rating to an “outperform” rating and increased their price target for the company from $30.00 to $43.00 in a research note on Thursday, March 14th. Finally, Morgan Stanley boosted their price objective on shares of Maplebear from $28.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.42.

Maplebear Company Profile

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.