Marqeta (NASDAQ:MQ) Price Target Cut to $5.00 by Analysts at Morgan Stanley

Marqeta (NASDAQ:MQ) had its price objective reduced by Morgan Stanley from $7.00 to $5.00 in a report released on Tuesday, Benzinga reports. They currently have an equal weight rating on the stock.

MQ has been the topic of several other reports. William Blair downgraded Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday. UBS Group reduced their price objective on Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. Susquehanna restated a “positive” rating and set a $9.00 target price on shares of Marqeta in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lowered shares of Marqeta from a “buy” rating to a “hold” rating and reduced their price target for the stock from $9.00 to $4.00 in a research note on Tuesday. Finally, Monness Crespi & Hardt downgraded shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective on the stock. in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Marqeta has a consensus rating of “Hold” and a consensus target price of $6.33.

Marqeta Price Performance

MQ opened at $3.42 on Tuesday. The firm has a market cap of $1.74 billion, a PE ratio of -170.91 and a beta of 1.73. The stock has a 50-day moving average price of $5.14 and a 200-day moving average price of $5.30. Marqeta has a 1 year low of $3.37 and a 1 year high of $7.36.

Marqeta (NASDAQ:MQ) last issued its 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 positive return on equity of 0.51% and a negative net margin of 2.62%. The firm had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $128.05 million. During the same period last year, the firm posted ($0.07) earnings per share. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Marqeta will post 0.06 EPS for the current year.

Institutional Investors Weigh In On Marqeta

Large investors have recently made changes to their positions in the company. MQS Management LLC purchased a new stake in shares of Marqeta during the 3rd quarter valued at about $96,000. GSA Capital Partners LLP boosted its holdings in shares of Marqeta by 671.7% in the 3rd quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock worth $1,153,000 after purchasing an additional 204,026 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of Marqeta by 6.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 370,070 shares of the company’s stock valued at $1,821,000 after purchasing an additional 23,729 shares during the last quarter. Atria Investments Inc raised its holdings in Marqeta by 32.7% during the 3rd quarter. Atria Investments Inc now owns 37,485 shares of the company’s stock valued at $184,000 after buying an additional 9,235 shares during the period. Finally, Olympiad Research LP purchased a new position in Marqeta during the third quarter worth $113,000. 78.64% of the stock is owned by institutional investors.

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.