Morgan Stanley Has Lowered Expectations for Marqeta (NASDAQ:MQ) Stock Price

Marqeta (NASDAQ:MQ) had its price target decreased by equities researchers at Morgan Stanley from $7.00 to $5.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 31.58% from the company’s previous close.

A number of other research firms also recently weighed in on MQ. William Blair downgraded Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday. Keefe, Bruyette & Woods reduced their price target on Marqeta from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Monday, July 8th. UBS Group decreased their price objective on Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wells Fargo & Company cut shares of Marqeta from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $7.00 to $5.00 in a report on Tuesday. Finally, Monness Crespi & Hardt lowered shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target for the company. in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.27.

Marqeta Stock Performance

MQ opened at $3.80 on Tuesday. The stock’s 50 day moving average price is $5.11 and its 200-day moving average price is $5.29. Marqeta has a 52-week low of $3.37 and a 52-week high of $7.36. The stock has a market capitalization of $1.93 billion, a PE ratio of 190.00 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last posted its earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Marqeta had a return on equity of 1.17% and a net margin of 2.86%. The company had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $128.05 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. Research analysts forecast that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Trading of Marqeta

Institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd raised its stake in shares of Marqeta by 17,340.0% in the first quarter. Covestor Ltd now owns 4,360 shares of the company’s stock worth $26,000 after purchasing an additional 4,335 shares during the last quarter. J.Safra Asset Management Corp raised its position in Marqeta by 633.2% in the 2nd 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 last quarter. Russell Investments Group Ltd. lifted its stake 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 during the period. Empowered Funds LLC purchased a new stake in shares of Marqeta during the 1st quarter valued at about $65,000. Finally, Magnetar Financial LLC bought a new stake in shares of Marqeta in the second quarter worth approximately $61,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

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.