FY2024 EPS Estimates for Maplebear Cut by Cantor Fitzgerald

Maplebear Inc. (NASDAQ:CART) – Equities research analysts at Cantor Fitzgerald lowered their FY2024 EPS estimates for shares of Maplebear in a report released on Tuesday, January 7th. Cantor Fitzgerald analyst D. Mathivanan now expects that the company will post earnings per share of $1.43 for the year, down from their prior forecast of $1.44. Cantor Fitzgerald currently has a “Overweight” rating and a $45.00 price target on the stock. The consensus estimate for Maplebear’s current full-year earnings is $1.40 per share.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping 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 analyst estimates of $844.03 million. During the same period last year, the business posted ($20.86) earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year.

A number of other research firms have also commented on CART. Bank of America raised their price target on Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Raymond James initiated coverage on shares of Maplebear in a report on Tuesday, September 24th. They issued a “market perform” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Maplebear in a report on Wednesday, November 13th. BMO Capital Markets upped their target price on shares of Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Finally, Macquarie lifted their price target on Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Thirteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.14.

Maplebear Trading Up 4.5 %

Shares of Maplebear stock opened at $44.82 on Thursday. Maplebear has a 12 month low of $22.25 and a 12 month high of $50.01. The company has a market capitalization of $11.51 billion, a PE ratio of 30.08, a PEG ratio of 1.08 and a beta of 1.04. The stock’s fifty day simple moving average is $43.59 and its 200 day simple moving average is $39.15.

Institutional Investors Weigh In On Maplebear

Institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. bought a new stake in shares of Maplebear during the 3rd quarter valued at $158,701,000. Geode Capital Management LLC lifted its stake in Maplebear by 151.7% during the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after purchasing an additional 1,647,081 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in shares of Maplebear by 19.7% in the 3rd quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock valued at $109,363,000 after purchasing an additional 441,156 shares in the last quarter. State Street Corp raised its holdings in shares of Maplebear by 48.3% during the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company’s stock worth $103,994,000 after buying an additional 831,795 shares in the last quarter. Finally, Southpoint Capital Advisors LP lifted its position in shares of Maplebear by 56.3% during the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock worth $101,850,000 after buying an additional 900,000 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors.

Insider Transactions at Maplebear

In related news, General Counsel Morgan Fong sold 11,325 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $42.97, for a total value of $486,635.25. Following the transaction, the general counsel now directly owns 287,659 shares in the company, valued at approximately $12,360,707.23. This represents a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the sale, the chief accounting officer now owns 87,735 shares of the company’s stock, valued at $3,697,152.90. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,128 shares of company stock worth $4,980,404. 36.00% of the stock is owned by insiders.

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.