The Goldman Sachs Group Has Lowered Expectations for Marqeta (NASDAQ:MQ) Stock Price

Marqeta (NASDAQ:MQ) had its price target lowered by investment analysts at The Goldman Sachs Group from $4.50 to $4.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 4.17% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Monness Crespi & Hardt cut 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. JPMorgan Chase & Co. dropped their target price on Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Susquehanna dropped their target price on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut Marqeta from a “buy” rating to a “hold” rating and dropped their target price for the stock from $9.00 to $4.00 in a report on Tuesday, November 5th. Finally, Morgan Stanley decreased their price target on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.23.

Marqeta Stock Performance

Shares of MQ traded down $0.04 during mid-day trading on Monday, reaching $3.84. 1,649,333 shares of the company’s stock traded hands, compared to its average volume of 5,300,286. The business’s 50-day moving average price is $4.68 and its 200-day moving average price is $5.07. The stock has a market capitalization of $1.93 billion, a P/E ratio of 192.00 and a beta of 1.73. Marqeta has a 12 month low of $3.37 and a 12 month high of $7.36.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results 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). The business had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the firm posted ($0.07) EPS. Equities research analysts anticipate that Marqeta will post 0.06 EPS for the current year.

Institutional Investors Weigh In On Marqeta

Institutional investors and hedge funds have recently modified their holdings of the business. J.Safra Asset Management Corp lifted its position in Marqeta by 633.2% during the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after acquiring an additional 5,300 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Marqeta during the 3rd quarter worth $57,000. CreativeOne Wealth LLC acquired a new position in Marqeta during the 3rd quarter worth $59,000. Magnetar Financial LLC acquired a new position in Marqeta during the 2nd quarter worth $61,000. Finally, XTX Topco Ltd acquired a new position in Marqeta during the 2nd quarter worth $72,000. 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.