Monness Crespi & Hardt Downgrades Marqeta (NASDAQ:MQ) to Neutral

Marqeta (NASDAQ:MQ) was downgraded by investment analysts at Monness Crespi & Hardt from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, Briefing.com reports.

Other equities research analysts also recently issued research reports about the company. UBS Group decreased their price target on Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. William Blair downgraded shares of Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut 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 report on Tuesday. Keefe, Bruyette & Woods decreased their price objective on shares of Marqeta from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.77.

Marqeta Price Performance

Shares of NASDAQ MQ opened at $5.95 on Tuesday. The company has a 50-day moving average price of $5.14 and a 200-day moving average price of $5.30. The stock has a market capitalization of $3.02 billion, a P/E ratio of -297.35 and a beta of 1.73. Marqeta has a 1 year low of $4.40 and a 1 year high of $7.36.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The company’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) EPS. As a group, equities research analysts anticipate that Marqeta will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Marqeta

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its holdings in Marqeta by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock valued at $281,000 after acquiring an additional 3,979 shares during the period. Empowered Funds LLC purchased a new position in shares of Marqeta in the first quarter valued at $65,000. Swiss National Bank raised its stake in shares of Marqeta by 4.6% during 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 period. Russell Investments Group Ltd. lifted its holdings in Marqeta by 7,852.8% during the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after purchasing an additional 9,973 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Marqeta by 6.6% in the 1st quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock worth $505,000 after purchasing an additional 5,257 shares during the period. 78.64% of the stock is currently owned by hedge funds and other 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.