Marqeta (NASDAQ:MQ) Cut to Market Perform at William Blair

William Blair downgraded shares of Marqeta (NASDAQ:MQ) from an outperform rating to a market perform rating in a report published on Tuesday, MarketBeat Ratings reports. William Blair also issued estimates for Marqeta’s Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at $0.07 EPS and FY2025 earnings at ($0.17) EPS.

A number of other equities analysts also recently weighed in on MQ. UBS Group lowered their target price on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Susquehanna reissued a “positive” rating and issued a $9.00 price objective on shares of Marqeta in a research report on Tuesday, August 6th. JPMorgan Chase & Co. cut their target price on Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Keefe, Bruyette & Woods lowered their target price on Marqeta from $7.00 to $6.00 and set a “market perform” rating for the company in a report on Monday, July 8th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.27.

Marqeta Stock Up 0.8 %

NASDAQ MQ opened at $3.83 on Tuesday. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 191.50 and a beta of 1.73. Marqeta has a twelve month low of $3.37 and a twelve month high of $7.36. The stock has a fifty day simple moving average of $5.08 and a 200 day simple moving average of $5.28.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Congress Asset Management Co. boosted its holdings in Marqeta by 46.8% during the third quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock worth $5,194,000 after purchasing an additional 336,349 shares during the last quarter. Visa Foundation bought a new stake in Marqeta during the second quarter worth $68,197,000. Vanguard Group Inc. boosted its position in Marqeta by 3.6% in the first quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock worth $282,717,000 after purchasing an additional 1,642,621 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in Marqeta by 27.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock valued at $44,216,000 after purchasing an additional 1,604,223 shares during the period. Finally, Comerica Bank raised its stake in shares of Marqeta by 27.8% during the 1st quarter. Comerica Bank now owns 1,007,954 shares of the company’s stock worth $6,007,000 after purchasing an additional 219,001 shares during the period. Institutional investors own 78.64% of the company’s stock.

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.