Free Trial

Marqeta (NASDAQ:MQ) Downgraded to "Neutral" Rating by Monness Crespi & Hardt

Marqeta logo with Business Services background

Marqeta (NASDAQ:MQ - Get Free Report) was downgraded by equities researchers at Monness Crespi & Hardt from a "buy" rating to a "neutral" rating in a report released on Tuesday, Marketbeat Ratings reports. They presently have a $7.50 price objective on the stock. Monness Crespi & Hardt's target price points to a potential upside of 119.30% from the company's previous close.

A number of other brokerages have also issued reports on MQ. JPMorgan Chase & Co. cut their price target on shares of Marqeta from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut Marqeta from a "buy" rating to a "hold" rating and lowered their target price for the stock from $9.00 to $4.00 in a research note on Tuesday. William Blair lowered shares of Marqeta from an "outperform" rating to a "market perform" rating in a research note on Tuesday. Wells Fargo & Company lowered shares of Marqeta from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $7.00 to $5.00 in a report on Tuesday. Finally, KeyCorp downgraded Marqeta from an "overweight" rating to a "sector weight" rating in a report on Tuesday. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $6.33.

Read Our Latest Stock Report on Marqeta

Marqeta Trading Down 42.5 %

NASDAQ:MQ traded down $2.53 during trading hours on Tuesday, hitting $3.42. The company had a trading volume of 80,234,945 shares, compared to its average volume of 4,888,553. The company has a 50-day moving average of $5.14 and a 200 day moving average of $5.30. Marqeta has a 1 year low of $3.37 and a 1 year high of $7.36. The company has a market cap of $1.74 billion, a P/E ratio of -171.91 and a beta of 1.73.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $127.90 million during the quarter, compared to analyst estimates of $128.05 million. Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The business's revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the company earned ($0.07) EPS. On average, analysts forecast that Marqeta will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Covestor Ltd boosted its stake in shares of Marqeta by 17,340.0% during the 1st quarter. Covestor Ltd now owns 4,360 shares of the company's stock worth $26,000 after purchasing an additional 4,335 shares during the last quarter. J.Safra Asset Management Corp grew its stake in Marqeta by 633.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company's stock worth $34,000 after acquiring an additional 5,300 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Marqeta by 7,852.8% during the 1st 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. Empowered Funds LLC acquired a new stake in shares of Marqeta during the first quarter worth $65,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Marqeta in the second quarter valued at $61,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

About Marqeta

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Marqeta (NASDAQ:MQ)

Should you invest $1,000 in Marqeta right now?

Before you consider Marqeta, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Marqeta wasn't on the list.

While Marqeta currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Energy Stocks to Buy and Hold Forever Cover

Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

’Best Report in 2 Years’: NVIDIA Earnings Crushes Expectations Again
Palantir and the NASDAQ 100: What’s the Next Big Stock Swing for This AI Giant?
Rocket Lab Stock Explodes Higher—What’s Next for This Space Pioneer?

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines