Marqeta (NASDAQ:MQ) Announces Earnings Results

Marqeta (NASDAQ:MQ) announced its quarterly earnings data on Monday. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01), Briefing.com reports. The business had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $128.05 million. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. Marqeta’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.07) EPS. Marqeta updated its Q4 2024 guidance to EPS.

Marqeta Stock Down 42.5 %

Shares of Marqeta stock opened at $3.42 on Wednesday. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -170.91 and a beta of 1.73. The company’s 50 day moving average is $5.14 and its 200 day moving average is $5.30. Marqeta has a twelve month low of $3.37 and a twelve month high of $7.36.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MQ. UBS Group cut their price objective on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut shares of Marqeta from a “buy” rating to a “hold” rating and cut their price objective for the stock from $9.00 to $4.00 in a report on Tuesday. William Blair cut shares of Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday. KeyCorp cut shares of Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday. Finally, Susquehanna cut their price target on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a report on Tuesday. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.33.

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.