Seaport Res Ptn Weighs in on Maplebear FY2024 Earnings

Maplebear Inc. (NASDAQ:CART) – Equities researchers at Seaport Res Ptn issued their FY2024 EPS estimates for Maplebear in a research note issued to investors on Wednesday, February 12th. Seaport Res Ptn analyst A. Kessler anticipates that the company will post earnings of $1.47 per share for the year. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for Maplebear’s current full-year earnings is $1.43 per share. Seaport Res Ptn also issued estimates for Maplebear’s Q4 2024 earnings at $0.40 EPS, Q1 2025 earnings at $0.40 EPS, Q2 2025 earnings at $0.37 EPS, Q3 2025 earnings at $0.37 EPS, Q4 2025 earnings at $0.42 EPS, FY2025 earnings at $1.55 EPS and FY2026 earnings at $1.79 EPS.

A number of other research analysts have also recently issued reports on CART. Oppenheimer lifted their price target on Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price target on Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Morgan Stanley lifted their price target on Maplebear from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Mizuho assumed coverage on Maplebear in a report on Tuesday, January 14th. They set an “outperform” rating and a $55.00 price objective for the company. Finally, Wells Fargo & Company assumed coverage on Maplebear in a report on Friday, January 10th. They set 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 two have assigned a strong buy rating to the company. According to MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and a consensus target price of $48.96.

Maplebear Stock Up 2.0 %

Maplebear stock opened at $50.97 on Friday. The stock has a 50-day simple moving average of $45.09 and a 200 day simple moving average of $41.52. Maplebear has a 12-month low of $24.52 and a 12-month high of $51.33. The stock has a market capitalization of $13.09 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of 1.09 and a beta of 1.07.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $852.00 million for the quarter, compared to the consensus estimate of $844.03 million. During the same quarter in the previous year, the company earned ($20.86) earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year.

Institutional Investors Weigh In On Maplebear

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its stake in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Maplebear by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock valued at $331,000 after buying an additional 286 shares in the last quarter. Allworth Financial LP grew its holdings in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after buying an additional 420 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in Maplebear by 1.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock valued at $1,294,000 after buying an additional 490 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in Maplebear by 5.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock valued at $493,000 after buying an additional 584 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the business’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 value of $107,091.92. Following the sale, the chief accounting officer now owns 85,421 shares in the company, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total value of $886,855.00. Following the completion of the sale, the chief executive officer now owns 1,771,993 shares in the company, valued at $75,734,980.82. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,555 shares of company stock worth $2,164,787. Corporate insiders own 36.00% of the company’s stock.

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.