FY2024 Earnings Forecast for Marqeta Issued By William Blair

Marqeta, Inc. (NASDAQ:MQ - Free Report) - Research analysts at William Blair dropped their FY2024 earnings per share estimates for Marqeta in a research report issued on Tuesday, November 5th. William Blair analyst C. Kennedy now anticipates that the company will post earnings of $0.07 per share for the year, down from their previous estimate of $0.11. William Blair currently has a "Market Perform" rating on the stock. The consensus estimate for Marqeta's current full-year earnings is $0.06 per share. William Blair also issued estimates for Marqeta's Q4 2024 earnings at ($0.04) EPS and FY2025 earnings at ($0.17) EPS.

A number of other equities research analysts have also commented on the company. KeyCorp lowered Marqeta from an "overweight" rating to a "sector weight" rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on Marqeta from $6.00 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday. Mizuho cut their target price on Marqeta from $7.00 to $5.00 and set an "outperform" rating for the company in a research note on Tuesday. The Goldman Sachs Group cut their target price on Marqeta from $5.50 to $4.50 and set a "neutral" rating for the company in a research note on Wednesday. Finally, Morgan Stanley cut their target price on Marqeta from $7.00 to $5.00 and set an "equal weight" rating for the company in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $6.27.

Marqeta Price Performance

Shares of NASDAQ:MQ traded up $0.03 during trading on Thursday, reaching $3.83. 14,672,238 shares of the stock were exchanged, compared to its average volume of 5,157,997. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.36. The stock has a fifty day moving average of $5.08 and a two-hundred day moving average of $5.28. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 193.50 and a beta of 1.73.

Marqeta (NASDAQ:MQ - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). The business had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. Marqeta had a return on equity of 1.17% and a net margin of 2.86%. Marqeta's quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) earnings per share.

Hedge Funds Weigh In On Marqeta

Several hedge funds have recently made changes to their positions in MQ. Allspring Global Investments Holdings LLC increased its stake in shares of Marqeta by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company's stock valued at $281,000 after buying an additional 3,979 shares during the period. Empowered Funds LLC purchased a new stake in Marqeta in the first quarter worth $65,000. Swiss National Bank grew its stake in Marqeta by 4.6% in the first quarter. Swiss National Bank now owns 784,700 shares of the company's stock worth $4,677,000 after purchasing an additional 34,300 shares during the period. Russell Investments Group Ltd. grew its stake in Marqeta by 7,852.8% in the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company's stock worth $60,000 after purchasing an additional 9,973 shares during the period. Finally, ProShare Advisors LLC grew its stake in Marqeta by 6.6% in the first quarter. ProShare Advisors LLC now owns 84,785 shares of the company's stock worth $505,000 after purchasing an additional 5,257 shares during the period. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Company Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.