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

Marqeta (NASDAQ:MQ) had its price target trimmed by The Goldman Sachs Group from $5.50 to $4.50 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

MQ has been the topic of several other research reports. Susquehanna reduced their price objective on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research note on Tuesday. Morgan Stanley cut their price target on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft downgraded shares of Marqeta from a “buy” rating to a “hold” rating and cut their price target for the stock from $9.00 to $4.00 in a research note on Tuesday. Monness Crespi & Hardt downgraded shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target on the stock. in a research note on Tuesday. Finally, KeyCorp downgraded shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Marqeta has an average rating of “Hold” and an average target price of $6.27.

Marqeta Stock Performance

MQ traded down $0.09 on Wednesday, hitting $3.74. 7,863,820 shares of the company were exchanged, compared to its average volume of 10,100,109. The business’s fifty day moving average is $5.02 and its 200 day moving average is $5.26. Marqeta has a fifty-two week low of $3.37 and a fifty-two week high of $7.36. The firm has a market capitalization of $1.90 billion, a P/E ratio of 187.00 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 (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 business had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $128.05 million. During the same period last year, the company earned ($0.07) EPS. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. Analysts forecast that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MQ. Allspring Global Investments Holdings LLC lifted its position in shares of Marqeta by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock worth $281,000 after buying an additional 3,979 shares during the last quarter. Empowered Funds LLC bought a new stake in Marqeta in the 1st quarter valued at about $65,000. Swiss National Bank lifted its position in Marqeta by 4.6% in the 1st quarter. Swiss National Bank now owns 784,700 shares of the company’s stock valued at $4,677,000 after purchasing an additional 34,300 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Marqeta by 7,852.8% in the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after purchasing an additional 9,973 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in Marqeta by 6.6% in the 1st quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock valued at $505,000 after purchasing an additional 5,257 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

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.