Marqeta (NASDAQ:MQ) Price Target Cut to $5.00 by Analysts at Morgan Stanley

Marqeta (NASDAQ:MQ) had its target price trimmed by Morgan Stanley from $7.00 to $5.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other analysts also recently issued reports about the stock. UBS Group dropped their price objective on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut Marqeta from a “buy” rating to a “hold” rating and decreased their price objective for the company from $9.00 to $4.00 in a report on Tuesday. Keefe, Bruyette & Woods reduced their price target on shares of Marqeta from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Monday, July 8th. Wells Fargo & Company cut shares of Marqeta from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $7.00 to $5.00 in a research note on Tuesday. Finally, Monness Crespi & Hardt cut shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 target price on the stock. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.33.

Marqeta Stock Down 42.5 %

Marqeta stock opened at $3.42 on Tuesday. The business has a 50-day simple moving average of $5.14 and a 200 day simple moving average of $5.30. Marqeta has a 52 week low of $3.37 and a 52 week high of $7.36. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -170.91 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The company had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. During the same quarter last year, the company posted ($0.07) earnings per share. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, research analysts anticipate that Marqeta will post 0.06 earnings per share for the current year.

Institutional Trading of Marqeta

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its position in shares of Marqeta by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock worth $281,000 after acquiring an additional 3,979 shares in the last quarter. Empowered Funds LLC purchased a new stake in Marqeta in the first quarter worth $65,000. Swiss National Bank lifted its position in Marqeta by 4.6% during the first quarter. Swiss National Bank now owns 784,700 shares of the company’s stock valued at $4,677,000 after buying an additional 34,300 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Marqeta by 7,852.8% during the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after buying an additional 9,973 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in shares of 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 buying an additional 5,257 shares during the period. Institutional investors own 78.64% of the company’s stock.

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.