Mizuho Trims Marqeta (NASDAQ:MQ) Target Price to $7.00

Marqeta (NASDAQ:MQ) had its price target reduced by Mizuho from $8.00 to $7.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Mizuho currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports 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. Keefe, Bruyette & Woods boosted their price target on shares of Marqeta from $7.00 to $8.00 and gave the company a market perform rating in a report on Friday, March 1st. William Blair reaffirmed an outperform rating on shares of Marqeta in a research note on Wednesday, May 8th. Truist Financial reiterated a buy rating and set a $10.00 price objective (up previously from $9.00) on shares of Marqeta in a report on Thursday, February 29th. Finally, 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 note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $7.37.

Marqeta Stock Up 3.7 %

Shares of MQ opened at $5.38 on Tuesday. The stock’s fifty day simple moving average is $5.69 and its 200-day simple moving average is $6.08. Marqeta has a 12-month low of $4.59 and a 12-month high of $7.36.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. Marqeta had a negative net margin of 32.98% and a negative return on equity of 11.84%. The business had revenue of $117.90 million for the quarter, compared to analyst estimates of $117.05 million. During the same period in the prior year, the business posted ($0.13) earnings per share. Marqeta’s revenue was down 45.8% compared to the same quarter last year. As a group, sell-side analysts predict that Marqeta will post 0.01 EPS for the current year.

Institutional Investors Weigh In On Marqeta

Institutional investors and hedge funds have recently made changes to their positions in the stock. Avior Wealth Management LLC increased its holdings in Marqeta by 8.8% during the fourth quarter. Avior Wealth Management LLC now owns 21,253 shares of the company’s stock worth $148,000 after buying an additional 1,719 shares during the last quarter. Aigen Investment Management LP raised its holdings in shares of Marqeta by 6.7% in the 3rd quarter. Aigen Investment Management LP now owns 28,095 shares of the company’s stock valued at $168,000 after purchasing an additional 1,763 shares during the period. Arizona State Retirement System lifted its stake in Marqeta by 1.8% in the 3rd quarter. Arizona State Retirement System now owns 110,657 shares of the company’s stock valued at $662,000 after purchasing an additional 1,957 shares during the last quarter. Amalgamated Bank grew its holdings in Marqeta by 4.9% during the third quarter. Amalgamated Bank now owns 51,433 shares of the company’s stock worth $308,000 after purchasing an additional 2,395 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its position in Marqeta by 20.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 19,144 shares of the company’s stock worth $114,000 after buying an additional 3,310 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.