Marqeta (NASDAQ:MQ) Price Target Lowered to $4.00 at Wells Fargo & Company

Marqeta (NASDAQ:MQ) had its target price lowered by investment analysts at Wells Fargo & Company from $5.00 to $4.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 6.67% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Susquehanna dropped their price target on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a research note on Tuesday, November 5th. The Goldman Sachs Group lowered their target price on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft cut Marqeta from a “buy” rating to a “hold” rating and decreased their price target for the company from $9.00 to $4.00 in a research note on Tuesday, November 5th. KeyCorp cut Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Finally, William Blair lowered shares of Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Marqeta presently has an average rating of “Hold” and a consensus price target of $5.75.

Marqeta Stock Performance

NASDAQ MQ opened at $3.75 on Thursday. The firm’s fifty day moving average price is $3.86 and its two-hundred day moving average price is $4.71. The stock has a market cap of $1.88 billion, a PE ratio of 187.50 and a beta of 1.52. Marqeta has a fifty-two week low of $3.37 and a fifty-two week high of $7.36.

Marqeta (NASDAQ:MQ) last posted its earnings results 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 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. Marqeta’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, sell-side analysts predict that Marqeta will post 0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MQ. Point72 DIFC Ltd bought a new position in Marqeta in the 3rd quarter valued at about $57,000. CreativeOne Wealth LLC bought a new position in shares of Marqeta in the third quarter valued at approximately $59,000. Magnetar Financial LLC purchased a new position in shares of Marqeta during the second quarter valued at approximately $61,000. XTX Topco Ltd bought a new stake in Marqeta during the second quarter worth $72,000. Finally, Castleview Partners LLC purchased a new stake in Marqeta in the 3rd quarter valued at $77,000. 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.