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

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

Several other research analysts have also weighed in on MQ. Wells Fargo & Company lowered Marqeta from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $7.00 to $5.00 in a research report on Tuesday, November 5th. Susquehanna cut their price objective on Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. decreased 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, November 5th. Monness Crespi & Hardt cut shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target for the company. in a research report on Tuesday, November 5th. Finally, Barclays reissued an “equal weight” rating and issued a $4.00 price target (down from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.97.

Marqeta Stock Down 0.5 %

Marqeta stock opened at $3.84 on Monday. The company has a fifty day simple moving average of $4.05 and a 200-day simple moving average of $4.80. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 192.00 and a beta of 1.52. Marqeta has a 52-week low of $3.37 and a 52-week 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 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% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) EPS. On average, research analysts anticipate that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Trading of Marqeta

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

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.