Marqeta (NASDAQ:MQ) Price Target Lowered to $4.00 at Wells Fargo & Company

Marqeta (NASDAQ:MQ) had its target price decreased by Wells Fargo & Company from $5.00 to $4.00 in a research note published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other analysts have also recently issued research reports about the stock. Mizuho dropped their price objective on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. KeyCorp downgraded shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. William Blair downgraded Marqeta from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Barclays restated an “equal weight” rating and set a $4.00 price objective (down previously from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Finally, Morgan Stanley cut their target price on Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Marqeta has an average rating of “Hold” and an average target price of $5.75.

Marqeta Trading Down 1.0 %

Marqeta stock opened at $3.77 on Thursday. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 188.50 and a beta of 1.52. The stock’s 50 day moving average is $3.86 and its 200-day moving average is $4.73. Marqeta has a 12 month low of $3.37 and a 12 month high of $7.36.

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

Institutional Investors Weigh In On Marqeta

Hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd acquired a new position in Marqeta during the 3rd quarter worth approximately $57,000. CreativeOne Wealth LLC bought a new stake in shares of Marqeta during the third quarter worth $59,000. Magnetar Financial LLC acquired a new position in shares of Marqeta during the second quarter worth $61,000. XTX Topco Ltd bought a new position in shares of Marqeta in the 2nd quarter valued at $72,000. Finally, Castleview Partners LLC acquired a new stake in shares of Marqeta during the 3rd quarter valued at $77,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.