The Goldman Sachs Group Cuts Marqeta (NASDAQ:MQ) Price Target to $4.00

Marqeta (NASDAQ:MQ - Get Free Report) had its price objective reduced by equities researchers at The Goldman Sachs Group from $4.50 to $4.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. The Goldman Sachs Group's price target suggests a potential upside of 5.54% from the company's current price.

A number of other equities analysts have also recently weighed in on MQ. Barclays reaffirmed an "equal weight" rating and set a $4.00 price objective (down previously from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods cut their price objective on Marqeta from $5.00 to $4.00 and set a "market perform" rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company lowered their target price on Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $5.29.

Marqeta Trading Up 2.2 %

MQ stock traded up $0.08 during trading on Wednesday, reaching $3.79. 10,637,525 shares of the stock were exchanged, compared to its average volume of 5,591,331. The business has a 50 day moving average price of $3.99 and a 200-day moving average price of $4.20. Marqeta has a 1 year low of $3.37 and a 1 year high of $6.12. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 189.50 and a beta of 1.42.

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Marqeta (NASDAQ:MQ - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.05. The company had revenue of $135.79 million during the quarter, compared to analyst estimates of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. On average, research analysts anticipate that Marqeta will post 0.06 EPS for the current year.

Institutional Trading of Marqeta

A number of large investors have recently made changes to their positions in MQ. Headlands Technologies LLC acquired a new position in Marqeta in the 4th quarter valued at $33,000. Blueshift Asset Management LLC purchased a new position in Marqeta during the fourth quarter worth about $38,000. Covestor Ltd lifted its position in Marqeta by 1,255.4% in the fourth quarter. Covestor Ltd now owns 10,030 shares of the company's stock valued at $38,000 after purchasing an additional 9,290 shares during the period. Bank of Montreal Can boosted its holdings in Marqeta by 125.6% in the 4th quarter. Bank of Montreal Can now owns 10,030 shares of the company's stock valued at $38,000 after purchasing an additional 49,243 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in Marqeta during the 4th quarter worth approximately $41,000. 78.64% of the stock is owned by institutional investors and hedge funds.

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.