Marqeta (NASDAQ:MQ) Price Target Cut to $4.00 by Analysts at Keefe, Bruyette & Woods

Marqeta (NASDAQ:MQ) had its price objective trimmed by Keefe, Bruyette & Woods from $5.00 to $4.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

A number of other research analysts have also recently weighed in on MQ. Mizuho dropped their price target on Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. The Goldman Sachs Group cut their target price on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. JPMorgan Chase & Co. lowered their price target on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Susquehanna dropped their price objective on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered 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 research note on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.82.

Marqeta Stock Down 0.5 %

Shares of NASDAQ MQ opened at $3.84 on Monday. The firm has a 50-day moving average price of $3.98 and a 200 day moving average price of $4.78. Marqeta has a 52 week low of $3.37 and a 52 week high of $7.36. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 192.00 and a beta of 1.52.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. Marqeta’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) earnings per share. Equities research analysts expect that Marqeta will post 0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Marqeta

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in shares of Marqeta by 9.9% in the 2nd quarter. Principal Financial Group Inc. now owns 60,636 shares of the company’s stock worth $332,000 after purchasing an additional 5,481 shares during the period. Commonwealth Equity Services LLC lifted its position in Marqeta by 5.7% during the second quarter. Commonwealth Equity Services LLC now owns 460,361 shares of the company’s stock valued at $2,523,000 after buying an additional 25,012 shares in the last quarter. Arizona State Retirement System grew its stake in Marqeta by 6.5% during the second quarter. Arizona State Retirement System now owns 116,295 shares of the company’s stock worth $637,000 after buying an additional 7,097 shares during the period. ClariVest Asset Management LLC increased its position in shares of Marqeta by 481.4% in the second quarter. ClariVest Asset Management LLC now owns 439,420 shares of the company’s stock worth $2,408,000 after acquiring an additional 363,835 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Marqeta by 197.5% in the 2nd quarter. American Century Companies Inc. now owns 286,013 shares of the company’s stock valued at $1,567,000 after acquiring an additional 189,882 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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.