Marqeta (NASDAQ:MQ) Price Target Cut to $4.00 by Analysts at The Goldman Sachs Group

Marqeta (NASDAQ:MQ) had its target price decreased by stock analysts at The Goldman Sachs Group from $4.50 to $4.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 4.17% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Monness Crespi & Hardt cut shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 target price on the stock. in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered shares of Marqeta from a “buy” rating to a “hold” rating and decreased their price target for the stock from $9.00 to $4.00 in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods lowered their price objective on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 5th. William Blair lowered shares of Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley decreased their target price on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.23.

Marqeta Stock Down 1.5 %

Shares of Marqeta stock opened at $3.84 on Monday. The firm has a market cap of $1.93 billion, a PE ratio of 192.00 and a beta of 1.54. The business’s fifty day moving average is $4.66 and its two-hundred day moving average is $5.06. Marqeta has a fifty-two week low of $3.37 and a fifty-two week high of $7.36.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results 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 company had revenue of $127.90 million during 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%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) earnings per share. Equities research analysts anticipate that Marqeta will post 0.06 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MQ. Vanguard Personalized Indexing Management LLC raised its position in Marqeta by 8.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock worth $246,000 after purchasing an additional 3,548 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Marqeta by 0.7% during the third 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 last quarter. J.Safra Asset Management Corp grew its stake in shares of Marqeta by 633.2% during the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after purchasing an additional 5,300 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Marqeta by 9.9% during the second quarter. Principal Financial Group Inc. now owns 60,636 shares of the company’s stock valued at $332,000 after purchasing an additional 5,481 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Marqeta by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock valued at $1,385,000 after purchasing an additional 5,515 shares during the last quarter. Institutional investors and hedge funds 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.