Marqeta (NASDAQ:MQ - Get Free Report) had its price target cut by Keefe, Bruyette & Woods from $6.00 to $5.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 46.20% from the stock's current price.
A number of other brokerages also recently issued reports on MQ. Monness Crespi & Hardt lowered 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. Deutsche Bank Aktiengesellschaft downgraded Marqeta from a "buy" rating to a "hold" rating and reduced their target price for the company from $9.00 to $4.00 in a report on Tuesday. Morgan Stanley dropped their price objective on Marqeta from $7.00 to $5.00 and set an "equal weight" rating for the company in a research report on Tuesday. Susquehanna reduced their price target on shares of Marqeta from $9.00 to $7.00 and set a "positive" rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company downgraded shares of Marqeta from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $7.00 to $5.00 in a report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $6.33.
View Our Latest Stock Report on Marqeta
Marqeta Price Performance
Shares of Marqeta stock traded down $2.53 on Tuesday, hitting $3.42. The company had a trading volume of 80,079,563 shares, compared to its average volume of 4,887,827. The stock has a 50-day moving average of $5.14 and a 200-day moving average of $5.30. Marqeta has a twelve month low of $3.37 and a twelve month high of $7.36. The firm has a market capitalization 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 data on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). The business had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The business's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) EPS. Equities analysts predict that Marqeta will post 0.06 EPS for the current year.
Institutional Investors Weigh In On Marqeta
Several institutional investors and hedge funds have recently added to or reduced their stakes in MQ. Covestor Ltd raised 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 period. J.Safra Asset Management Corp boosted its stake in Marqeta by 633.2% in the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company's stock valued at $34,000 after acquiring an additional 5,300 shares during the last quarter. Russell Investments Group Ltd. grew its position 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 valued at $60,000 after acquiring an additional 9,973 shares during the period. Magnetar Financial LLC purchased a new stake in shares of Marqeta during the 2nd quarter worth approximately $61,000. Finally, Empowered Funds LLC bought a new stake in shares of Marqeta in the 1st quarter worth approximately $65,000. Hedge funds and other institutional investors own 78.64% of the company's stock.
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.
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