Keefe, Bruyette & Woods Issues Pessimistic Forecast for Marqeta (NASDAQ:MQ) Stock Price

Marqeta (NASDAQ:MQ) had its target price dropped by Keefe, Bruyette & Woods from $6.00 to $5.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 31.58% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company cut shares of Marqeta from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $7.00 to $5.00 in a report on Tuesday. Susquehanna decreased their target price on Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a research note on Tuesday. Deutsche Bank Aktiengesellschaft downgraded Marqeta from a “buy” rating to a “hold” rating and dropped their price target for the stock from $9.00 to $4.00 in a research report on Tuesday. Monness Crespi & Hardt cut Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a research report on Tuesday. Finally, KeyCorp lowered shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research report 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. Based on data from MarketBeat, Marqeta currently has a consensus rating of “Hold” and an average target price of $6.27.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $3.80 on Tuesday. The stock has a market capitalization of $1.93 billion, a P/E ratio of 190.00 and a beta of 1.73. The business has a 50-day moving average of $5.11 and a two-hundred day moving average of $5.29. Marqeta has a fifty-two week low of $3.37 and a fifty-two week high of $7.36.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.06) 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 1.17%. The company had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. During the same quarter last year, the business earned ($0.07) EPS. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, research analysts expect that Marqeta will post 0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Marqeta

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Marqeta by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock valued at $282,717,000 after purchasing an additional 1,642,621 shares during the last quarter. Visa Foundation acquired a new stake in shares of Marqeta during the second quarter worth approximately $68,197,000. Dimensional Fund Advisors LP raised its stake in shares of Marqeta by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock valued at $40,759,000 after acquiring an additional 389,045 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Marqeta by 27.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock worth $44,216,000 after acquiring an additional 1,604,223 shares in the last quarter. Finally, Capital International Investors grew its position in Marqeta by 203.1% during the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock worth $40,998,000 after acquiring an additional 4,609,526 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

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.