The Goldman Sachs Group Lowers Marqeta (NASDAQ:MQ) Price Target to $4.50

Marqeta (NASDAQ:MQ) had its price objective reduced by equities researchers at The Goldman Sachs Group from $5.50 to $4.50 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 17.49% from the company’s current price.

Several other research firms also recently commented on MQ. Keefe, Bruyette & Woods decreased their target price on Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Tuesday. William Blair lowered Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday. UBS Group dropped their target price on Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. Mizuho decreased their price target on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley dropped their price objective on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Marqeta currently has an average rating of “Hold” and an average price target of $6.27.

Marqeta Stock Up 0.8 %

NASDAQ:MQ opened at $3.83 on Wednesday. Marqeta has a 12-month low of $3.37 and a 12-month high of $7.36. The stock’s 50 day moving average price is $5.08 and its two-hundred day moving average price is $5.28. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 191.50 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.17%. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.07) EPS. Equities research analysts expect that Marqeta will post 0.06 EPS for the current year.

Institutional Investors Weigh In On Marqeta

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its stake in Marqeta by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock valued at $281,000 after purchasing an additional 3,979 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Marqeta during the first quarter worth $65,000. Swiss National Bank lifted its stake in shares of Marqeta by 4.6% in the 1st quarter. Swiss National Bank now owns 784,700 shares of the company’s stock valued at $4,677,000 after acquiring an additional 34,300 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Marqeta by 7,852.8% during the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after acquiring an additional 9,973 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in Marqeta by 6.6% during the 1st quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock worth $505,000 after acquiring an additional 5,257 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.