Marqeta (NASDAQ:MQ) Price Target Cut to $5.00 by Analysts at Keefe, Bruyette & Woods

Marqeta (NASDAQ:MQ) had its price target decreased by Keefe, Bruyette & Woods from $6.00 to $5.00 in a research note released on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

A number of other research firms have also issued reports on MQ. Morgan Stanley lowered their target price on Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday. UBS Group lowered their target price on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. KeyCorp lowered Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday. Monness Crespi & Hardt lowered Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective on the stock. in a report on Tuesday. Finally, Wells Fargo & Company lowered Marqeta from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $7.00 to $5.00 in a report on Tuesday. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.27.

Marqeta Stock Performance

Shares of MQ stock opened at $3.74 on Tuesday. The stock’s 50 day simple moving average is $5.02 and its 200 day simple moving average is $5.26. Marqeta has a twelve month low of $3.37 and a twelve month high of $7.36. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 187.00 and a beta of 1.73.

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 net margin of 2.86% and a return on equity of 1.20%. The company had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. During the same period in the previous year, the business posted ($0.07) earnings per share. The firm’s revenue was up 20.8% on a year-over-year basis. On average, analysts forecast that Marqeta will post 0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Marqeta

Several institutional investors have recently bought and sold shares of MQ. Primecap Management Co. CA lifted its position in Marqeta by 0.7% during the 3rd quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock valued at $2,402,000 after purchasing an additional 3,627 shares during the period. Intech Investment Management LLC acquired a new position in Marqeta in the third quarter valued at approximately $431,000. MQS Management LLC acquired a new position in Marqeta in the third quarter valued at approximately $96,000. GSA Capital Partners LLP boosted its stake in Marqeta by 671.7% in the third quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock valued at $1,153,000 after acquiring an additional 204,026 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in Marqeta by 6.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 370,070 shares of the company’s stock worth $1,821,000 after acquiring an additional 23,729 shares during the period. 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.