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

Marqeta (NASDAQ:MQ) had its price target dropped by 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 objective would indicate a potential upside of 27.48% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Monness Crespi & Hardt downgraded shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective on the stock. in a report on Tuesday. Morgan Stanley cut their price objective on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday. Wells Fargo & Company cut shares of Marqeta from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $7.00 to $5.00 in a report on Tuesday. Mizuho dropped their price objective on Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Susquehanna decreased their target price on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.27.

Marqeta Trading Up 3.2 %

MQ stock traded up $0.11 during midday trading on Wednesday, hitting $3.53. The stock had a trading volume of 17,411,154 shares, compared to its average volume of 4,947,477. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.36. The business has a fifty day moving average price of $5.11 and a two-hundred day moving average price of $5.29. The firm has a market cap of $1.79 billion, a P/E ratio of -176.91 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 for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The business had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. During the same period in the previous year, the business posted ($0.07) EPS. Marqeta’s revenue was up 20.8% compared to the same quarter last year. On average, equities analysts anticipate that Marqeta will post 0.06 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC increased its holdings in Marqeta by 8.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock worth $246,000 after purchasing an additional 3,548 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Marqeta by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock valued at $281,000 after acquiring an additional 3,979 shares during the last quarter. Covestor Ltd boosted its stake in Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock worth $26,000 after purchasing an additional 4,335 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Marqeta by 6.6% during the 1st quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock valued at $505,000 after buying an additional 5,257 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its holdings in Marqeta by 633.2% during the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after purchasing an additional 5,300 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.