FY2024 EPS Estimates for Maplebear Inc. Increased by Wedbush (NASDAQ:CART)

Maplebear Inc. (NASDAQ:CART - Free Report) - Equities researchers at Wedbush upped their FY2024 earnings per share (EPS) estimates for shares of Maplebear in a research note issued to investors on Thursday, May 9th. Wedbush analyst S. Devitt now forecasts that the company will post earnings of $0.91 per share for the year, up from their previous forecast of $0.50. The consensus estimate for Maplebear's current full-year earnings is $0.97 per share. Wedbush also issued estimates for Maplebear's FY2025 earnings at $1.49 EPS.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.39. The company had revenue of $820.00 million during the quarter, compared to analysts' expectations of $794.08 million. The business's quarterly revenue was up 8.0% on a year-over-year basis.

Several other analysts have also issued reports on the stock. JMP Securities boosted their price objective on shares of Maplebear from $35.00 to $42.00 and gave the company a "market outperform" rating in a report on Thursday. BMO Capital Markets boosted their price objective on Maplebear from $26.00 to $36.00 and gave the stock a "market perform" rating in a research report on Thursday. Macquarie assumed coverage on Maplebear in a report on Monday, March 25th. They issued an "outperform" rating and a $42.00 price target for the company. Moffett Nathanson reaffirmed a "neutral" rating and issued a $37.00 price target (up from $36.00) on shares of Maplebear in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. increased their price objective on Maplebear from $35.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, March 25th. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.89.

Maplebear Stock Down 0.5 %

CART traded down $0.19 on Monday, hitting $34.75. The company had a trading volume of 5,027,948 shares, compared to its average volume of 4,163,654. Maplebear has a 1 year low of $22.13 and a 1 year high of $42.95. The company's fifty day moving average price is $36.28 and its 200 day moving average price is $29.32.

Institutional Trading of Maplebear

Several large investors have recently bought and sold shares of CART. SC US Ttgp LTD. acquired a new stake in Maplebear in the third quarter valued at $1,180,490,000. KPCB DGF II Associates LLC acquired a new stake in Maplebear in the third quarter valued at $119,544,000. Canaan Partners IX LLC acquired a new stake in Maplebear in the fourth quarter valued at $87,508,000. Norges Bank acquired a new stake in Maplebear in the fourth quarter valued at $78,674,000. Finally, Technology Crossover Management XI Ltd. acquired a new stake in shares of Maplebear during the third quarter valued at $80,163,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Insiders Place Their Bets

In other Maplebear news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the business's stock in a transaction on Tuesday, February 20th. The stock was purchased at an average price of $27.90 per share, for a total transaction of $28,923,455.70. Following the completion of the transaction, the insider now owns 1,036,683 shares of the company's stock, valued at approximately $28,923,455.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Maplebear news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the business's stock in a transaction on Tuesday, February 20th. The stock was purchased at an average price of $27.90 per share, for a total transaction of $28,923,455.70. Following the completion of the transaction, the insider now owns 1,036,683 shares of the company's stock, valued at approximately $28,923,455.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey D. Jordan sold 760,479 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $26.01, for a total value of $19,780,058.79. Following the completion of the transaction, the director now owns 20,783 shares of the company's stock, valued at approximately $540,565.83. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 2,157,745 shares of company stock worth $61,771,955 and sold 1,055,899 shares worth $30,422,265. 36.00% of the stock is currently owned by company insiders.

About Maplebear

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.