Instacart (Maplebear Inc.) to Post Q3 2024 Earnings of $0.07 Per Share, Wedbush Forecasts (NASDAQ:CART)

Instacart (Maplebear Inc.) (NASDAQ:CART) – Equities researchers at Wedbush raised their Q3 2024 earnings per share (EPS) estimates for Instacart (Maplebear Inc.) in a report released on Wednesday, November 8th. Wedbush analyst S. Devitt now forecasts that the company will post earnings of $0.07 per share for the quarter, up from their prior forecast of $0.05. Wedbush currently has a “Neutral” rating and a $30.00 target price on the stock. The consensus estimate for Instacart (Maplebear Inc.)’s current full-year earnings is ($13.36) per share. Wedbush also issued estimates for Instacart (Maplebear Inc.)’s Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.28 EPS and FY2025 earnings at $0.76 EPS.

Instacart (Maplebear Inc.) (NASDAQ:CART) last released its earnings results on Wednesday, November 8th. The company reported ($20.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($17.33) by ($3.53). The business had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $735.65 million.

A number of other research firms also recently weighed in on CART. Wolfe Research started coverage on shares of Instacart (Maplebear Inc.) in a research report on Sunday, September 24th. They set a “peer perform” rating for the company. Moffett Nathanson began coverage on shares of Instacart (Maplebear Inc.) in a research report on Monday, October 23rd. They set a “market perform” rating and a $30.00 price target on the stock. Citigroup initiated coverage on Instacart (Maplebear Inc.) in a research report on Monday, October 16th. They issued a “buy” rating and a $34.00 price objective for the company. JMP Securities raised their target price on Instacart (Maplebear Inc.) from $33.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Thursday. Finally, Stifel Nicolaus initiated coverage on Instacart (Maplebear Inc.) in a research note on Monday, October 16th. They issued a “buy” rating and a $48.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.46.

Instacart (Maplebear Inc.) Stock Performance

NASDAQ:CART opened at $25.21 on Friday. Instacart has a one year low of $23.36 and a one year high of $42.95.

Insider Activity

In other news, major shareholder Us (Ttgp) Ltd. Sc bought 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was bought at an average price of $30.00 per share, for a total transaction of $30,000,000.00. Following the transaction, the insider now directly owns 1,000,000 shares of the company’s stock, valued at approximately $30,000,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Us (Ttgp) Ltd. Sc purchased 1,000,000 shares of the company’s stock in a transaction on Thursday, September 21st. The stock was acquired at an average price of $30.00 per share, with a total value of $30,000,000.00. Following the transaction, the insider now directly owns 1,000,000 shares of the company’s stock, valued at approximately $30,000,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Grosvenor Capital Management, bought 6,327 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were purchased at an average price of $30.00 per share, with a total value of $189,810.00. Following the completion of the acquisition, the insider now owns 6,327 shares of the company’s stock, valued at approximately $189,810. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 1,066,327 shares of company stock worth $31,989,810. 4.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Instacart (Maplebear Inc.)

Several hedge funds have recently made changes to their positions in the company. Harvard Management Co. Inc. bought a new stake in shares of Instacart (Maplebear Inc.) in the 3rd quarter worth approximately $15,434,000. General Catalyst Group Management LLC bought a new stake in Instacart (Maplebear Inc.) in the third quarter worth $36,535,000. Deutsche Bank AG purchased a new stake in shares of Instacart (Maplebear Inc.) in the third quarter worth $148,000. UBS Group AG bought a new position in shares of Instacart (Maplebear Inc.) during the third quarter valued at $56,000. Finally, KPCB DGF II Associates LLC purchased a new position in shares of Instacart (Maplebear Inc.) in the 3rd quarter worth about $119,544,000.

Instacart (Maplebear Inc.) Company Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers a range of products, such as food, alcohol, consumer health, pet care, ready-made meals, and others. The company offers its services through a mobile application and website.