Marqeta (NASDAQ:MQ) Given New $7.00 Price Target at Susquehanna

Marqeta (NASDAQ:MQ) had its target price decreased by Susquehanna from $9.00 to $7.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Susquehanna currently has a positive rating on the stock.

Several other research analysts also recently commented on the company. KeyCorp downgraded Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. William Blair cut shares of Marqeta from an “outperform” rating to a “market perform” rating in a research report on Tuesday. UBS Group cut their target price on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft downgraded shares of Marqeta from a “buy” rating to a “hold” rating and lowered their price target for the stock from $9.00 to $4.00 in a report on Tuesday. Finally, Morgan Stanley cut their price objective on Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Marqeta has a consensus rating of “Hold” and a consensus target price of $6.27.

Marqeta Trading Down 2.3 %

Shares of Marqeta stock opened at $3.74 on Tuesday. The company has a 50 day moving average of $5.05 and a 200-day moving average of $5.27. The company has a market cap of $1.90 billion, a PE ratio of 187.00 and a beta of 1.73. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.36.

Marqeta (NASDAQ:MQ) last issued its 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). Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The business had revenue of $127.90 million during the quarter, compared to analyst estimates of $128.05 million. During the same period in the prior year, the business posted ($0.07) EPS. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. Research analysts forecast that Marqeta will post 0.06 earnings per share for the current year.

Hedge Funds Weigh In On Marqeta

A number of hedge funds have recently bought and sold shares of the company. Visa Foundation bought a new stake in Marqeta in the second quarter worth approximately $68,197,000. Capital International Investors increased its stake in shares of Marqeta by 203.1% in the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock valued at $40,998,000 after acquiring an additional 4,609,526 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Marqeta by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock valued at $282,717,000 after acquiring an additional 1,642,621 shares during the period. Westfield Capital Management Co. LP boosted its stake in Marqeta by 27.6% during the first quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock worth $44,216,000 after acquiring an additional 1,604,223 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Marqeta by 65.6% in the second quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company’s stock worth $14,362,000 after purchasing an additional 1,038,577 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.