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

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

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. lowered their price objective on Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. KeyCorp downgraded shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. William Blair lowered Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Morgan Stanley cut their price target on Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Finally, Susquehanna decreased their price objective on Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a research note on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.82.

Marqeta Stock Performance

Shares of MQ opened at $3.84 on Monday. The stock has a 50 day moving average price of $3.98 and a 200 day moving average price of $4.78. 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.

Marqeta (NASDAQ:MQ) last released its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.05 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. Marqeta’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) EPS. On average, analysts predict that Marqeta will post 0.06 earnings per share for the current year.

Institutional Trading of Marqeta

A number of large investors have recently bought and sold shares of MQ. Magnetar Financial LLC purchased a new position in Marqeta in the 2nd quarter valued at $61,000. Point72 DIFC Ltd purchased a new stake in shares of Marqeta in the third quarter valued at about $57,000. CreativeOne Wealth LLC acquired a new position in shares of Marqeta during the third quarter worth about $59,000. XTX Topco Ltd purchased a new position in Marqeta during the second quarter worth about $72,000. Finally, Castleview Partners LLC acquired a new stake in Marqeta in the third quarter valued at about $77,000. Institutional investors and hedge funds 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.