Marqeta (NASDAQ:MQ) Price Target Lowered to $7.00 at Mizuho

Marqeta (NASDAQ:MQ) had its target price reduced by Mizuho from $8.00 to $7.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. William Blair restated an outperform rating on shares of Marqeta in a research note on Wednesday, May 8th. Monness Crespi & Hardt raised their price objective on Marqeta from $7.50 to $8.00 and gave the stock a buy rating in a report on Wednesday, May 8th. Barclays decreased their target price on Marqeta from $8.00 to $7.00 and set an overweight rating for the company in a research report on Thursday, May 9th. Keefe, Bruyette & Woods increased their price target on Marqeta from $7.00 to $8.00 and gave the stock a market perform rating in a research report on Friday, March 1st. Finally, Bank of America upgraded Marqeta from a neutral rating to a buy rating and set a $7.00 price objective for the company in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $7.37.

Marqeta Price Performance

Shares of NASDAQ MQ opened at $5.19 on Tuesday. The firm has a 50-day simple moving average of $5.70 and a two-hundred day simple moving average of $6.08. Marqeta has a 1 year low of $4.56 and a 1 year high of $7.36. The company has a market cap of $2.69 billion, a P/E ratio of -14.42 and a beta of 1.81.

Marqeta (NASDAQ:MQ) last released its earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. The business had revenue of $117.90 million during the quarter, compared to the consensus estimate of $117.05 million. Marqeta had a negative return on equity of 11.84% and a negative net margin of 32.98%. The business’s revenue for the quarter was down 45.8% compared to the same quarter last year. During the same period last year, the company earned ($0.13) earnings per share. As a group, equities research analysts expect that Marqeta will post 0.01 EPS for the current year.

Institutional Trading of Marqeta

A number of institutional investors have recently made changes to their positions in MQ. Covestor Ltd increased its stake 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 in the last quarter. Russell Investments Group Ltd. raised its stake in Marqeta by 7,852.8% in the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after acquiring an additional 9,973 shares during the last quarter. Profund Advisors LLC acquired a new stake in Marqeta during the 3rd quarter worth about $62,000. Empowered Funds LLC purchased a new stake in Marqeta during the 1st quarter valued at about $65,000. Finally, SVB Wealth LLC acquired a new position in shares of Marqeta in the fourth quarter valued at about $70,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

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.