Wells Fargo & Company Cuts Marqeta (NASDAQ:MQ) Price Target to $4.00

Marqeta (NASDAQ:MQ) had its price target lowered by Wells Fargo & Company from $5.00 to $4.00 in a research report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the company. Morgan Stanley reduced their price target on Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut Marqeta from a “buy” rating to a “hold” rating and reduced their price target for the company from $9.00 to $4.00 in a report on Tuesday, November 5th. Monness Crespi & Hardt cut Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target for the company. in a report on Tuesday, November 5th. William Blair cut Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Finally, Mizuho reduced their price target on Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.75.

Marqeta Trading Down 0.5 %

Marqeta stock opened at $3.75 on Thursday. Marqeta has a twelve month low of $3.37 and a twelve month high of $7.36. The stock has a 50 day moving average of $3.86 and a two-hundred day moving average of $4.70. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 187.50 and a beta of 1.52.

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

Hedge Funds Weigh In On Marqeta

Hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd purchased a new position in Marqeta during the third quarter worth $57,000. CreativeOne Wealth LLC purchased a new stake in shares of Marqeta in the third quarter valued at $59,000. Magnetar Financial LLC purchased a new stake in shares of Marqeta in the second quarter valued at $61,000. XTX Topco Ltd purchased a new stake in shares of Marqeta in the second quarter valued at $72,000. Finally, Castleview Partners LLC purchased a new stake in shares of Marqeta in the third quarter valued at $77,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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.