Marqeta (NASDAQ:MQ) Price Target Lowered to $5.00 at Mizuho

Marqeta (NASDAQ:MQ) had its price target trimmed by Mizuho from $7.00 to $5.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other analysts have also commented on MQ. Keefe, Bruyette & Woods lowered their price target on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Tuesday. Wells Fargo & Company downgraded Marqeta from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $7.00 to $5.00 in a research report on Tuesday. KeyCorp cut Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday. William Blair lowered Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut their target price on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.27.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $3.74 on Tuesday. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 187.00 and a beta of 1.73. The business’s 50 day simple moving average is $5.02 and its 200-day simple moving average is $5.26. Marqeta has a 12 month low of $3.37 and a 12 month high of $7.36.

Marqeta (NASDAQ:MQ) last posted its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $127.90 million during the quarter, compared to analyst estimates of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the company posted ($0.07) EPS. On average, equities analysts anticipate that Marqeta will post 0.06 earnings per share for the current year.

Institutional Investors Weigh In On Marqeta

A number of institutional investors have recently modified their holdings of the company. Covestor Ltd increased its stake in shares of Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock valued at $26,000 after acquiring an additional 4,335 shares in the last quarter. J.Safra Asset Management Corp raised its holdings in shares of Marqeta by 633.2% during the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after purchasing an additional 5,300 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Marqeta by 7,852.8% during the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after purchasing an additional 9,973 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Marqeta in the 2nd quarter valued at about $61,000. Finally, Empowered Funds LLC acquired a new stake in shares of Marqeta in the 1st quarter valued at about $65,000. 78.64% of the stock is owned by institutional investors.

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.