Marqeta (NASDAQ:MQ) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Marqeta (NASDAQ:MQ) released its quarterly earnings data on Monday. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01), Briefing.com reports. 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 analysts’ expectations of $128.05 million. During the same period in the prior year, the firm posted ($0.07) EPS. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. Marqeta updated its Q4 2024 guidance to EPS.

Marqeta Stock Up 1.7 %

Shares of Marqeta stock opened at $5.95 on Tuesday. The firm has a market cap of $3.02 billion, a PE ratio of -297.35 and a beta of 1.73. Marqeta has a fifty-two week low of $4.40 and a fifty-two week high of $7.36. The business’s fifty day moving average is $5.14 and its two-hundred day moving average is $5.30.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MQ shares. William Blair cut Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday. Wells Fargo & Company cut Marqeta from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $7.00 to $5.00 in a research report on Tuesday. Monness Crespi & Hardt lowered shares of Marqeta from a “buy” rating to a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, KeyCorp cut shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.63.

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.