Marqeta (NASDAQ:MQ) Shares Gap Down - Here's What Happened

Marqeta, Inc. (NASDAQ:MQ - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $4.03, but opened at $3.89. Marqeta shares last traded at $4.03, with a volume of 239,523 shares changing hands.

Analyst Upgrades and Downgrades

MQ has been the subject of a number of research reports. Susquehanna decreased their target price on Marqeta from $9.00 to $7.00 and set a "positive" rating for the company in a research note on Tuesday, November 5th. Morgan Stanley lowered their price target on Marqeta from $7.00 to $5.00 and set an "equal weight" rating on the stock in a report on Tuesday, November 5th. Monness Crespi & Hardt lowered shares of Marqeta from a "buy" rating to a "neutral" rating and set a $7.50 price objective on the stock. in a research note on Tuesday, November 5th. JPMorgan Chase & Co. dropped their price target on shares of Marqeta from $6.00 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, November 5th. Finally, Mizuho reduced their price objective on Marqeta from $7.00 to $5.00 and set an "outperform" rating for the company in a research note on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Marqeta presently has a consensus rating of "Hold" and a consensus target price of $6.03.

Marqeta Trading Down 3.5 %

The company's fifty day simple moving average is $4.47 and its 200-day simple moving average is $4.96. The stock has a market cap of $1.95 billion, a P/E ratio of 194.50 and a beta of 1.54.

Marqeta (NASDAQ:MQ - Get Free Report) last issued its 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). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company had revenue of $127.90 million during the quarter, compared to analyst estimates of $128.05 million. During the same period in the previous year, the company posted ($0.07) earnings per share. The company's quarterly revenue was up 20.8% on a year-over-year basis. As a group, analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new stake in shares of Marqeta during the third quarter worth $57,000. CreativeOne Wealth LLC bought a new position in shares of Marqeta in the 3rd quarter valued at about $59,000. Magnetar Financial LLC bought a new stake in shares of Marqeta during the second quarter worth approximately $61,000. XTX Topco Ltd acquired a new position in Marqeta in the second quarter valued at approximately $72,000. Finally, Castleview Partners LLC acquired a new stake in Marqeta during the 3rd quarter worth $77,000. Institutional investors and hedge funds own 78.64% of the company's stock.

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.