Marqeta (NASDAQ:MQ) Announces Quarterly Earnings Results

Marqeta (NASDAQ:MQ) issued its quarterly earnings data on Tuesday. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01, Briefing.com reports. The firm had revenue of $117.90 million for the quarter, compared to analyst estimates of $117.05 million. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The business’s quarterly revenue was down 45.8% compared to the same quarter last year. During the same period last year, the company earned ($0.13) EPS.

Marqeta Price Performance

Shares of Marqeta stock traded down $0.12 during trading on Wednesday, hitting $5.71. 6,342,045 shares of the company’s stock traded hands, compared to its average volume of 5,067,727. Marqeta has a 1 year low of $4.07 and a 1 year high of $7.36. The business has a 50-day simple moving average of $5.84 and a 200-day simple moving average of $6.06. The stock has a market capitalization of $2.93 billion, a P/E ratio of -13.45 and a beta of 1.81.

Analyst Ratings Changes

Several brokerages have commented on MQ. Bank of America upgraded shares of 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. William Blair reissued an “outperform” rating on shares of Marqeta in a research note on Wednesday. Keefe, Bruyette & Woods lifted their price objective on Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. Monness Crespi & Hardt increased their target price on Marqeta from $7.50 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Truist Financial restated a “buy” rating and issued a $10.00 target price (up previously from $9.00) on shares of Marqeta in a research note on Thursday, February 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.50.

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.