Keefe, Bruyette & Woods Lowers Marqeta (NASDAQ:MQ) Price Target to $4.00

Marqeta (NASDAQ:MQ) had its target price lowered by Keefe, Bruyette & Woods from $5.00 to $4.00 in a report issued on Monday,Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other brokerages also recently commented on MQ. Mizuho cut their price objective on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company cut shares of Marqeta from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $7.00 to $5.00 in a report on Tuesday, November 5th. Barclays reaffirmed an “equal weight” rating and issued a $4.00 price objective (down previously from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft downgraded Marqeta from a “buy” rating to a “hold” rating and cut their target price for the stock from $9.00 to $4.00 in a research note on Tuesday, November 5th. Finally, Susquehanna decreased their price target on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.97.

Marqeta Stock Performance

Shares of NASDAQ:MQ opened at $3.84 on Monday. Marqeta has a one year low of $3.37 and a one year high of $7.36. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 192.00 and a beta of 1.52. The company has a 50-day simple moving average of $4.05 and a 200-day simple moving average of $4.80.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.06) EPS 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 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 company earned ($0.07) earnings per share. The firm’s revenue was up 20.8% on a year-over-year basis. As a group, research analysts forecast that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MQ. Congress Asset Management Co. boosted its position in Marqeta by 46.8% during the third quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock worth $5,194,000 after acquiring an additional 336,349 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Marqeta during the third quarter worth $1,466,000. Main Management ETF Advisors LLC purchased a new stake in shares of Marqeta in the third quarter valued at $786,000. GSA Capital Partners LLP increased its stake in Marqeta by 671.7% in the third quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock valued at $1,153,000 after purchasing an additional 204,026 shares during the last quarter. Finally, Holocene Advisors LP lifted its position in Marqeta by 143.0% during the third quarter. Holocene Advisors LP now owns 522,059 shares of the company’s stock worth $2,569,000 after buying an additional 307,223 shares during the period. 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.