Seaport Res Ptn Weighs in on Maplebear FY2024 Earnings

Maplebear Inc. (NASDAQ:CART) – Investment analysts at Seaport Res Ptn issued their FY2024 earnings estimates for shares of Maplebear in a research report issued to clients and investors on Wednesday, February 12th. Seaport Res Ptn analyst A. Kessler forecasts 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.

Several other research analysts also recently issued reports on CART. Morgan Stanley upped their price target on shares of Maplebear from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. BTIG Research upgraded shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Tuesday, January 14th. Stifel Nicolaus upped their target price on shares of Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, October 28th. BMO Capital Markets upped their target price on shares of Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company started coverage on shares of Maplebear in a research report on Friday, January 10th. They set an “equal weight” rating and a $47.00 target price on the stock. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.96.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $49.99 on Friday. The company’s fifty day moving average is $44.96 and its 200-day moving average is $41.46. The company has a market capitalization of $12.84 billion, a PE ratio of 33.55, a P/E/G ratio of 1.09 and a beta of 1.07. Maplebear has a 52 week low of $24.52 and a 52 week high of $50.91.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company 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) EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year.

Insider Transactions at Maplebear

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the sale, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total transaction of $92,261.82. Following the sale, the chief accounting officer now directly owns 89,982 shares in the company, valued at $3,694,660.92. This trade represents a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,555 shares of company stock valued at $2,164,787 over the last 90 days. 36.00% of the stock is owned by corporate insiders.

Institutional Trading of Maplebear

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Maplebear by 3.7% in the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock valued at $331,000 after purchasing an additional 286 shares during the period. Allworth Financial LP raised its position in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock valued at $1,294,000 after purchasing an additional 490 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in shares of Maplebear by 5.1% in the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock valued at $493,000 after purchasing an additional 584 shares during the period. 63.09% of the stock is owned by institutional investors.

About Maplebear

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.