The Goldman Sachs Group Lowers Marqeta (NASDAQ:MQ) Price Target to $4.00

Marqeta (NASDAQ:MQ) had its price target cut by equities researchers at The Goldman Sachs Group from $4.50 to $4.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 6.10% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Barclays restated an “equal weight” rating and set a $4.00 target price (down previously from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods reduced their price target on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company lowered their price objective on Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.29.

Marqeta Trading Up 0.2 %

Shares of NASDAQ:MQ traded up $0.01 during trading on Wednesday, reaching $4.26. 1,669,559 shares of the stock were exchanged, compared to its average volume of 5,561,312. The firm has a market cap of $2.15 billion, a PE ratio of 213.00 and a beta of 1.49. Marqeta has a 12 month low of $3.37 and a 12 month high of $6.25. The stock has a 50-day moving average price of $3.98 and a 200-day moving average price of $4.22.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The firm had revenue of $135.79 million for the quarter, compared to analyst estimates of $132.71 million. On average, sell-side analysts expect that Marqeta will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Marqeta

A number of hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC bought a new stake in shares of Marqeta during the third quarter worth about $1,466,000. CreativeOne Wealth LLC acquired a new stake in Marqeta during the 3rd quarter worth approximately $59,000. Verition Fund Management LLC grew its holdings in Marqeta by 45.5% during the 3rd quarter. Verition Fund Management LLC now owns 69,163 shares of the company’s stock worth $340,000 after acquiring an additional 21,625 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in Marqeta by 69.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 39,234 shares of the company’s stock valued at $193,000 after acquiring an additional 16,033 shares during the period. Finally, Holocene Advisors LP increased its position in Marqeta by 143.0% in the 3rd quarter. Holocene Advisors LP now owns 522,059 shares of the company’s stock valued at $2,569,000 after acquiring an additional 307,223 shares during the period. 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.