The Goldman Sachs Group Cuts Marqeta (NASDAQ:MQ) Price Target to $4.00

Marqeta (NASDAQ:MQ) had its price target reduced by The Goldman Sachs Group from $4.50 to $4.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently commented on MQ. Keefe, Bruyette & Woods lowered their price target on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a report on Monday, January 6th. Barclays reaffirmed an “equal weight” rating and issued a $4.00 target price (down from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company decreased their price objective on Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Marqeta has an average rating of “Hold” and an average target price of $5.29.

Marqeta Price Performance

Shares of MQ opened at $4.25 on Wednesday. Marqeta has a 1-year low of $3.37 and a 1-year high of $6.25. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 212.50 and a beta of 1.49. The firm has a 50 day simple moving average of $3.99 and a 200-day simple moving average of $4.22.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $135.79 million during the quarter, compared to analysts’ expectations of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. On average, equities analysts expect that Marqeta will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Marqeta

A number of institutional investors have recently modified their holdings of the company. Cerity Partners LLC acquired a new position in Marqeta during the 3rd quarter worth approximately $1,466,000. CreativeOne Wealth LLC purchased a new position in shares of Marqeta in the third quarter valued at $59,000. Verition Fund Management LLC grew its holdings in Marqeta by 45.5% during the 3rd quarter. Verition Fund Management LLC now owns 69,163 shares of the company’s stock valued at $340,000 after purchasing an additional 21,625 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in Marqeta by 69.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 39,234 shares of the company’s stock worth $193,000 after buying an additional 16,033 shares during the period. Finally, Holocene Advisors LP lifted its holdings in Marqeta by 143.0% in the 3rd 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 in the last quarter. Hedge funds and other 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.