Marqeta (NASDAQ:MQ) Rating Lowered to “Market Perform” at William Blair

William Blair cut shares of Marqeta (NASDAQ:MQ) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday morning, Marketbeat reports.

MQ has been the topic of a number of other reports. UBS Group decreased their target price on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Keefe, Bruyette & Woods lowered their price objective on Marqeta from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Monday, July 8th. Susquehanna restated a “positive” rating and issued a $9.00 target price on shares of Marqeta in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reduced their price target on Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.33.

Marqeta Stock Performance

Shares of MQ opened at $3.42 on Tuesday. The stock has a 50 day moving average price of $5.14 and a 200 day moving average price of $5.30. Marqeta has a one year low of $3.37 and a one year high of $7.36. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -170.91 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last released its 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). The business had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.05 million. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. Marqeta’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) EPS. On average, analysts predict that Marqeta will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Visa Foundation purchased a new stake in Marqeta during the second quarter worth approximately $68,197,000. Capital International Investors raised its holdings in Marqeta by 203.1% during the first quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock worth $40,998,000 after purchasing 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 worth $282,717,000 after buying an additional 1,642,621 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of 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 buying an additional 1,604,223 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Marqeta by 65.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company’s stock valued at $14,362,000 after buying an additional 1,038,577 shares during the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

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.