Marqeta (NASDAQ:MQ) Price Target Cut to $5.00 by Analysts at Mizuho

Marqeta (NASDAQ:MQ - Get Free Report) had its target price decreased by equities researchers at Mizuho from $7.00 to $5.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's target price suggests a potential upside of 46.20% from the company's current price.

Several other brokerages have also recently issued reports on MQ. Monness Crespi & Hardt cut shares of Marqeta from a "buy" rating to a "neutral" rating and set a $7.50 target price on the stock. in a research report on Tuesday. Morgan Stanley decreased their price objective on Marqeta from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods lowered their price objective on Marqeta from $6.00 to $5.00 and set a "market perform" rating for the company in a research note on Tuesday. William Blair downgraded Marqeta from an "outperform" rating to a "market perform" rating in a research report on Tuesday. Finally, KeyCorp downgraded Marqeta from an "overweight" rating to a "sector weight" rating in a research report on Tuesday. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Marqeta presently has an average rating of "Hold" and an average price target of $6.33.

Marqeta Trading Down 42.5 %

Shares of MQ traded down $2.53 during trading hours on Tuesday, reaching $3.42. 80,296,446 shares of the stock traded hands, compared to its average volume of 4,888,700. The company has a market cap of $1.74 billion, a P/E ratio of -171.91 and a beta of 1.73. The company's 50-day moving average price is $5.14 and its two-hundred day moving average price is $5.30. Marqeta has a 52-week low of $3.37 and a 52-week high of $7.36.

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 the consensus estimate of ($0.05) by ($0.01). Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The business had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. During the same period last year, the business posted ($0.07) EPS. The firm's revenue for the quarter was up 20.8% compared to the same quarter last year. On average, research analysts forecast that Marqeta will post 0.06 EPS for the current year.

Institutional Investors Weigh In On Marqeta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Visa Foundation purchased a new position in shares of Marqeta in the second quarter worth $68,197,000. Congress Asset Management Co. raised its stake in shares of Marqeta by 46.8% in the third quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company's stock worth $5,194,000 after purchasing an additional 336,349 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Marqeta by 3.6% during the first quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company's stock worth $282,717,000 after purchasing an additional 1,642,621 shares during the period. Westfield Capital Management Co. LP boosted its position in Marqeta by 27.6% in the first quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company's stock valued at $44,216,000 after buying an additional 1,604,223 shares during the last quarter. Finally, Comerica Bank increased its holdings in Marqeta by 27.8% in the 1st quarter. Comerica Bank now owns 1,007,954 shares of the company's stock worth $6,007,000 after buying an additional 219,001 shares during the period. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

About Marqeta

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.