Marqeta (NASDAQ:MQ) Price Target Cut to $5.00 by Analysts at Mizuho

Marqeta (NASDAQ:MQ) had its price objective decreased by Mizuho from $7.00 to $5.00 in a report issued on Tuesday, Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other analysts also recently weighed in on MQ. Susquehanna dropped their price objective on Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a research report on Tuesday. Monness Crespi & Hardt downgraded Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective on the stock. in a report on Tuesday. Morgan Stanley lowered their target price on Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday. UBS Group lowered their price objective on Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Tuesday. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.33.

Marqeta Stock Down 42.5 %

NASDAQ MQ opened at $3.42 on Tuesday. Marqeta has a 12-month low of $3.37 and a 12-month high of $7.36. The firm has a 50-day moving average price of $5.14 and a two-hundred day moving average price of $5.30. The company has a market capitalization of $1.74 billion, a P/E ratio of -170.91 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The company had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. During the same period in the prior year, the company earned ($0.07) EPS. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. Equities analysts expect that Marqeta will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Marqeta

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