Marqeta (NASDAQ:MQ - Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01), Briefing.com reports. The company had revenue of $127.90 million during the quarter, compared to the consensus estimate 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 was up 20.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) earnings per share. Marqeta updated its Q4 2024 guidance to EPS.
Marqeta Price Performance
NASDAQ MQ traded down $2.53 on Tuesday, hitting $3.42. 80,296,446 shares of the stock were exchanged, compared to its average volume of 4,888,700. The business's fifty day moving average is $5.14 and its 200 day moving average is $5.30. Marqeta has a 52 week low of $3.37 and a 52 week high of $7.36. The company has a market capitalization of $1.74 billion, a PE ratio of -171.91 and a beta of 1.73.
Analyst Ratings Changes
Several equities analysts have issued reports on the company. Wells Fargo & Company downgraded Marqeta from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $7.00 to $5.00 in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on Marqeta from $6.00 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday. William Blair downgraded shares of Marqeta from an "outperform" rating to a "market perform" rating in a research report on Tuesday. UBS Group cut their price target on Marqeta from $8.50 to $8.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft cut Marqeta from a "buy" rating to a "hold" rating and reduced their target price for the stock from $9.00 to $4.00 in a report on Tuesday. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Marqeta currently has a consensus rating of "Hold" and an average price target of $6.33.
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About Marqeta
(
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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.
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