Mizuho Issues Pessimistic Forecast for Marqeta (NASDAQ:MQ) Stock Price

Marqeta (NASDAQ:MQ) had its price target lowered by research analysts at Mizuho from $7.00 to $5.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 41.64% from the company’s current price.

A number of other analysts have also recently issued reports on MQ. Morgan Stanley cut their target price 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. Wells Fargo & Company lowered Marqeta from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $7.00 to $5.00 in a research report on Tuesday. UBS Group cut their price target on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. dropped their price target on Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Monness Crespi & Hardt cut Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a research report on Tuesday. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Marqeta currently has an average rating of “Hold” and an average price target of $6.33.

Marqeta Stock Performance

Shares of MQ traded down $2.42 on Tuesday, reaching $3.53. The stock had a trading volume of 53,243,035 shares, compared to its average volume of 4,762,422. Marqeta has a 12-month low of $3.43 and a 12-month high of $7.36. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -176.41 and a beta of 1.73. The company has a 50-day simple moving average of $5.14 and a 200-day simple moving average of $5.30.

Marqeta (NASDAQ:MQ) last released its quarterly 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). The firm had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.05 million. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The company’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.07) earnings per share. On average, analysts expect that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Marqeta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd increased its position in Marqeta by 17,340.0% during the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock valued at $26,000 after purchasing an additional 4,335 shares during the period. J.Safra Asset Management Corp grew its holdings in Marqeta by 633.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after buying an additional 5,300 shares in the last quarter. Russell Investments Group Ltd. increased its position in Marqeta by 7,852.8% during the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after buying an additional 9,973 shares during the period. Magnetar Financial LLC acquired a new position in shares of Marqeta in the second quarter worth $61,000. Finally, Empowered Funds LLC purchased a new stake in Marqeta during the first quarter valued at about $65,000. 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.