Maplebear Inc. Forecasted to Post FY2024 Earnings of $0.96 Per Share (NASDAQ:CART)

Maplebear Inc. (NASDAQ:CART) – Equities researchers at Cantor Fitzgerald issued their FY2024 EPS estimates for Maplebear in a report released on Thursday, September 5th. Cantor Fitzgerald analyst D. Mathivanan anticipates that the company will post earnings of $0.96 per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $45.00 target price on the stock. The consensus estimate for Maplebear’s current full-year earnings is $1.14 per share.

A number of other equities analysts also recently commented on the stock. Wedbush boosted their target price on shares of Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Piper Sandler upped their price objective on shares of Maplebear from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Gordon Haskett upgraded Maplebear from a “hold” rating to a “buy” rating and upped their target price for the company from $37.00 to $45.00 in a research report on Wednesday, June 5th. Wolfe Research began coverage on Maplebear in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Morgan Stanley upped their target price on Maplebear from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Maplebear currently has an average rating of “Moderate Buy” and a consensus price target of $42.81.

Maplebear Trading Down 1.8 %

Shares of Maplebear stock opened at $34.01 on Monday. The company has a 50-day simple moving average of $33.95 and a two-hundred day simple moving average of $34.31. Maplebear has a one year low of $22.13 and a one year high of $42.95.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.07. The firm had revenue of $823.00 million during the quarter, compared to the consensus estimate of $806.35 million. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. Maplebear’s revenue was up 14.9% compared to the same quarter last year.

Insider Activity at Maplebear

In other news, CEO Fidji Simo sold 8,500 shares of Maplebear stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $33.04, for a total value of $280,840.00. Following the completion of the transaction, the chief executive officer now owns 1,984,167 shares in the company, valued at approximately $65,556,877.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Maplebear news, General Counsel Morgan Fong sold 9,506 shares of Maplebear stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total transaction of $332,900.12. Following the transaction, the general counsel now owns 372,335 shares of the company’s stock, valued at $13,039,171.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Fidji Simo sold 8,500 shares of Maplebear stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $33.04, for a total value of $280,840.00. Following the completion of the transaction, the chief executive officer now owns 1,984,167 shares in the company, valued at $65,556,877.68. The disclosure for this sale can be found here. Insiders sold 68,610 shares of company stock worth $2,377,448 in the last three months. 36.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC boosted its stake in shares of Maplebear by 139.3% in the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after buying an additional 620 shares in the last quarter. nVerses Capital LLC increased its stake in Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after purchasing an additional 1,600 shares during the last quarter. Cantor Fitzgerald L. P. increased its stake in Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after acquiring an additional 2,489 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Maplebear in the fourth quarter worth about $69,000. Finally, Quarry LP boosted its holdings in Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after purchasing an additional 2,865 shares during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

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.