The Goldman Sachs Group Issues Pessimistic Forecast for Marqeta (NASDAQ:MQ) Stock Price

Marqeta (NASDAQ:MQ) had its target price cut by The Goldman Sachs Group from $5.50 to $4.50 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued reports about the stock. William Blair lowered shares of Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company downgraded Marqeta from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $7.00 to $5.00 in a research report on Tuesday, November 5th. Mizuho reduced their price objective on Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. KeyCorp lowered Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods reduced their target price on Marqeta from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.27.

Marqeta Stock Performance

Shares of MQ stock opened at $3.74 on Wednesday. Marqeta has a 1 year low of $3.37 and a 1 year high of $7.36. The business’s fifty day moving average is $5.02 and its 200-day moving average is $5.25. The stock has a market cap of $1.90 billion, a PE ratio of 187.00 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last announced 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). Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. During the same period in the prior year, the business earned ($0.07) EPS. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. Equities research analysts predict that Marqeta will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd grew its stake in Marqeta by 17,340.0% in the first quarter. Covestor Ltd now owns 4,360 shares of the company’s stock valued at $26,000 after purchasing an additional 4,335 shares in the last quarter. J.Safra Asset Management Corp grew its stake in shares of Marqeta by 633.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after buying an additional 5,300 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in 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 last quarter. Magnetar Financial LLC bought a new position in Marqeta during the second quarter valued at approximately $61,000. Finally, Empowered Funds LLC acquired a new stake in Marqeta in the first quarter valued at approximately $65,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

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.