Marqeta (NASDAQ:MQ) Cut to Hold at Deutsche Bank Aktiengesellschaft

Marqeta (NASDAQ:MQ) was downgraded by analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, FinViz reports. They currently have a $4.00 price target on the stock, down from their prior price target of $9.00. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential downside of 32.77% from the stock’s previous close.

MQ has been the subject of a number of other research reports. Susquehanna restated a “positive” rating and set a $9.00 price objective on shares of Marqeta in a report on Tuesday, August 6th. Keefe, Bruyette & Woods reduced their price objective on shares of Marqeta from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Monday, July 8th. UBS Group decreased their price target on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered their price objective on shares of Marqeta from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, William Blair cut Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.77.

Marqeta Stock Performance

Shares of NASDAQ MQ opened at $5.95 on Tuesday. The stock has a 50 day moving average price of $5.14 and a 200 day moving average price of $5.30. The stock has a market capitalization of $3.02 billion, a PE ratio of -297.35 and a beta of 1.73. Marqeta has a 52 week low of $4.40 and a 52 week high of $7.36.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The company had revenue of $125.30 million for the quarter, compared to analyst estimates of $121.87 million. During the same period in the previous year, the business earned ($0.07) EPS. Marqeta’s revenue for the quarter was down 45.8% compared to the same quarter last year. As a group, research analysts forecast that Marqeta will post 0.06 EPS for the current year.

Institutional Trading of Marqeta

Several large investors have recently added to or reduced their stakes in MQ. Covestor Ltd boosted its position in shares of Marqeta by 17,340.0% during 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 raised its holdings in Marqeta by 633.2% in the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after buying an additional 5,300 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Marqeta by 7,852.8% in the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after acquiring an additional 9,973 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Marqeta during the first quarter valued at $65,000. Finally, Magnetar Financial LLC bought a new stake in shares of Marqeta in the second quarter worth approximately $61,000. Institutional investors 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.