Mizuho Issues Pessimistic Forecast for Marqeta (NASDAQ:MQ) Stock Price

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

A number of other equities analysts have also commented on the stock. William Blair lowered shares of Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday. KeyCorp lowered shares of Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday. Wells Fargo & Company lowered shares of Marqeta from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $7.00 to $5.00 in a report on Tuesday. Finally, Susquehanna cut their price objective on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a research note on Tuesday. Ten 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, Marqeta has an average rating of “Hold” and an average target price of $6.27.

Marqeta Trading Up 0.8 %

Marqeta stock opened at $3.83 on Tuesday. The firm’s 50 day simple moving average is $5.08 and its 200 day simple moving average is $5.28. The firm has a market capitalization of $1.95 billion, a PE ratio of 191.50 and a beta of 1.73. Marqeta has a 1-year low of $3.37 and a 1-year 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 analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. Marqeta had a return on equity of 1.17% and a net margin of 2.86%. The business’s revenue was up 20.8% on a year-over-year basis. During the same period last year, the company posted ($0.07) EPS. Research analysts forecast that Marqeta will post 0.06 earnings per share for the current year.

Institutional Investors Weigh In On Marqeta

Several institutional investors have recently added to or reduced their stakes in the company. MQS Management LLC purchased a new stake in Marqeta during the 3rd quarter valued at $96,000. GSA Capital Partners LLP raised its holdings in Marqeta by 671.7% in the 3rd quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock worth $1,153,000 after purchasing an additional 204,026 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Marqeta by 6.9% in 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 purchasing an additional 23,729 shares in the last quarter. Atria Investments Inc raised its holdings in Marqeta by 32.7% in the 3rd quarter. Atria Investments Inc now owns 37,485 shares of the company’s stock worth $184,000 after purchasing an additional 9,235 shares in the last quarter. Finally, Olympiad Research LP bought a new position in Marqeta in the 3rd quarter worth $113,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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.