Marqeta (NASDAQ:MQ) Given New $4.50 Price Target at The Goldman Sachs Group

Marqeta (NASDAQ:MQ) had its target price decreased by The Goldman Sachs Group from $5.50 to $4.50 in a research note issued to investors on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other brokerages have also recently issued reports on MQ. Mizuho lowered their price objective on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday. KeyCorp downgraded shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded shares of Marqeta from a “buy” rating to a “hold” rating and dropped their target price for the stock from $9.00 to $4.00 in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, William Blair downgraded shares of Marqeta from an “outperform” rating to a “market perform” 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.27.

Marqeta Stock Down 2.3 %

Marqeta stock traded down $0.09 during trading hours on Wednesday, hitting $3.74. 7,863,820 shares of the company traded hands, compared to its average volume of 10,100,109. The firm has a market cap of $1.90 billion, a P/E ratio of 187.00 and a beta of 1.73. The firm’s 50-day simple moving average is $5.02 and its two-hundred day simple moving average is $5.26. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.36.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data 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). The business had revenue of $127.90 million during the quarter, compared to analyst estimates of $128.05 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) EPS. On average, equities research analysts predict that Marqeta will post 0.06 earnings per share 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. Primecap Management Co. CA boosted its stake in Marqeta by 0.7% during the 3rd quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock valued at $2,402,000 after purchasing an additional 3,627 shares during the period. Intech Investment Management LLC bought a new stake in Marqeta in the 3rd quarter valued at $431,000. MQS Management LLC acquired a new stake in Marqeta in the 3rd quarter worth $96,000. GSA Capital Partners LLP increased its holdings in shares of Marqeta by 671.7% during the 3rd quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock worth $1,153,000 after purchasing an additional 204,026 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Marqeta by 6.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 370,070 shares of the company’s stock valued at $1,821,000 after buying an additional 23,729 shares during the period. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Company Profile

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.