The Goldman Sachs Group Has Lowered Expectations for Marqeta (NASDAQ:MQ) Stock Price

Marqeta (NASDAQ:MQ) had its price target lowered by equities research analysts at The Goldman Sachs Group from $5.50 to $4.50 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 17.49% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Wells Fargo & Company downgraded shares of Marqeta from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $7.00 to $5.00 in a research report on Tuesday. KeyCorp lowered shares of Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft lowered shares of Marqeta from a “buy” rating to a “hold” rating and decreased their price target for the company from $9.00 to $4.00 in a report on Tuesday. Keefe, Bruyette & Woods lowered their price objective on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Tuesday. Finally, Susquehanna reduced their target price on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a report on Tuesday. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.27.

Marqeta Stock Performance

Shares of Marqeta stock opened at $3.83 on Wednesday. Marqeta has a 52 week low of $3.37 and a 52 week high of $7.36. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 191.50 and a beta of 1.73. The firm has a fifty day moving average of $5.08 and a two-hundred day moving average of $5.28.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) EPS 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 1.17%. The company had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. During the same quarter in the prior year, the company posted ($0.07) EPS. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, research analysts forecast that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MQ. Congress Asset Management Co. increased its stake in Marqeta by 46.8% in the 3rd quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock valued at $5,194,000 after buying an additional 336,349 shares during the last quarter. Visa Foundation bought a new position in shares of Marqeta in the 2nd quarter valued at about $68,197,000. Vanguard Group Inc. increased its position in shares of Marqeta by 3.6% in the first 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 last quarter. Westfield Capital Management Co. LP raised its holdings 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, Comerica Bank boosted its position in Marqeta by 27.8% during the first quarter. Comerica Bank now owns 1,007,954 shares of the company’s stock valued at $6,007,000 after purchasing an additional 219,001 shares during the last quarter. Institutional investors and hedge funds 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.