FY2024 Earnings Forecast for Marqeta Issued By William Blair

Marqeta, Inc. (NASDAQ:MQ) – Equities researchers at William Blair cut their FY2024 earnings per share (EPS) estimates for Marqeta in a report issued on Tuesday, November 5th. William Blair analyst C. Kennedy now forecasts that the company will post earnings per share of $0.07 for the year, down from their previous forecast of $0.11. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Marqeta’s current full-year earnings is $0.06 per share. William Blair also issued estimates for Marqeta’s Q4 2024 earnings at ($0.04) EPS and FY2025 earnings at ($0.17) EPS.

Marqeta (NASDAQ:MQ) last posted 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 firm had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.07) EPS.

Several other equities research analysts have also issued reports on MQ. Morgan Stanley reduced their target price on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday. Wells Fargo & Company cut shares of Marqeta from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $7.00 to $5.00 in a research note on Tuesday. The Goldman Sachs Group lowered their target price on shares of Marqeta from $5.50 to $4.50 and set a “neutral” rating on the stock in a research note on Wednesday. KeyCorp lowered Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft downgraded Marqeta from a “buy” rating to a “hold” rating and lowered their price objective for the company from $9.00 to $4.00 in a research report on Tuesday. Ten research 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, Marqeta presently has a consensus rating of “Hold” and an average target price of $6.27.

Marqeta Price Performance

Shares of Marqeta stock opened at $3.74 on Thursday. The stock has a market capitalization of $1.90 billion, a PE ratio of 187.00 and a beta of 1.73. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.36. The company’s fifty day simple moving average is $5.05 and its 200-day simple moving average is $5.27.

Hedge Funds Weigh In On Marqeta

Several institutional investors have recently made changes to their positions in MQ. Covestor Ltd boosted its stake in shares of Marqeta by 17,340.0% during the first quarter. Covestor Ltd now owns 4,360 shares of the company’s stock valued at $26,000 after purchasing an additional 4,335 shares in the last quarter. J.Safra Asset Management Corp lifted its holdings in Marqeta by 633.2% during the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after buying an additional 5,300 shares during the period. Russell Investments Group Ltd. boosted its position in 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 in the last quarter. Empowered Funds LLC bought a new stake in Marqeta during the 1st quarter valued at $65,000. Finally, Magnetar Financial LLC purchased a new position in shares of Marqeta in the 2nd quarter valued at $61,000. 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.