Marqeta (NASDAQ:MQ) Stock Rating Lowered by William Blair

Marqeta (NASDAQ:MQ) was downgraded by investment analysts at William Blair from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports.

Several other analysts have also recently issued reports on the stock. UBS Group decreased their target price on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Susquehanna restated a “positive” rating and set a $9.00 target price on shares of Marqeta in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods decreased their target price 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. Finally, JPMorgan Chase & Co. reduced their price objective 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Marqeta has a consensus rating of “Hold” and an average target price of $6.27.

Marqeta Stock Up 11.1 %

Shares of MQ stock opened at $3.80 on Tuesday. The stock has a market cap of $1.93 billion, a P/E ratio of 190.00 and a beta of 1.73. Marqeta has a 52 week low of $3.37 and a 52 week high of $7.36. The company’s fifty day simple moving average is $5.11 and its two-hundred day simple moving average is $5.29.

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). The company had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $128.05 million. Marqeta had a return on equity of 1.17% and a net margin of 2.86%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.07) EPS. On average, analysts anticipate that Marqeta will post 0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Marqeta

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Marqeta by 3.6% during the first 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 in the last quarter. Visa Foundation bought a new position in shares of Marqeta during the second quarter valued at approximately $68,197,000. Dimensional Fund Advisors LP boosted its stake in shares of Marqeta by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock valued at $40,759,000 after purchasing an additional 389,045 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Marqeta by 27.6% during the first quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock valued at $44,216,000 after purchasing an additional 1,604,223 shares in the last quarter. Finally, Capital International Investors boosted its stake in shares of Marqeta by 203.1% during the first quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock valued at $40,998,000 after purchasing an additional 4,609,526 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

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.