Marqeta (NASDAQ:MQ) Price Target Lowered to $4.50 at The Goldman Sachs Group

Marqeta (NASDAQ:MQ) had its price target trimmed by The Goldman Sachs Group from $5.50 to $4.50 in a report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods lowered their price target on Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 5th. KeyCorp lowered Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft downgraded Marqeta from a “buy” rating to a “hold” rating and dropped their price target for the stock from $9.00 to $4.00 in a research report on Tuesday, November 5th. Susquehanna reduced 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. Finally, Mizuho dropped their target price on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. 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 an average rating of “Hold” and an average price target of $6.27.

Marqeta Stock Performance

MQ opened at $3.74 on Wednesday. The firm has a market cap of $1.90 billion, a P/E ratio of 187.00 and a beta of 1.73. The business has a 50 day moving average price of $5.02 and a 200 day moving average price of $5.25. Marqeta has a twelve month low of $3.37 and a twelve month high of $7.36.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The firm had revenue of $127.90 million during the quarter, compared to analyst estimates of $128.05 million. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. Marqeta’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, analysts anticipate that Marqeta will post 0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MQ. Covestor Ltd raised its holdings in shares of Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock worth $26,000 after buying an additional 4,335 shares in the last quarter. J.Safra Asset Management Corp grew its position in Marqeta by 633.2% in the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after acquiring an additional 5,300 shares during the period. Russell Investments Group Ltd. grew its position in Marqeta by 7,852.8% in the first 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. Magnetar Financial LLC acquired a new position in Marqeta during the second quarter worth $61,000. Finally, Empowered Funds LLC bought a new position in shares of Marqeta during the first quarter valued at $65,000. 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.