Marqeta (NASDAQ:MQ) Issues Earnings Results

Marqeta (NASDAQ:MQ) released its quarterly earnings results on Monday. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01), Briefing.com reports. Marqeta had a net margin of 2.86% and a return on equity of 1.17%. The firm 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 business posted ($0.07) earnings per share. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. Marqeta updated its Q4 2024 guidance to EPS.

Marqeta Price Performance

Marqeta stock traded up $0.38 during trading on Wednesday, reaching $3.80. 53,137,940 shares of the company were exchanged, compared to its average volume of 3,746,837. The stock’s 50 day simple moving average is $5.11 and its two-hundred day simple moving average is $5.29. The company has a market capitalization of $1.93 billion, a P/E ratio of 190.00 and a beta of 1.73. Marqeta has a 52-week low of $3.37 and a 52-week high of $7.36.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Marqeta from $5.50 to $4.50 and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley cut their price objective on Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday. William Blair downgraded Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday. Keefe, Bruyette & Woods cut their price target on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.27.

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.