Marqeta (NASDAQ:MQ) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Marqeta (NASDAQ:MQ) announced its quarterly earnings data on Monday. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01), Briefing.com reports. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The business had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. During the same quarter in the prior year, the company earned ($0.07) earnings per share. Marqeta’s quarterly revenue was up 20.8% compared to the same quarter last year. Marqeta updated its Q4 2024 guidance to EPS.

Marqeta Trading Up 1.7 %

MQ opened at $5.95 on Tuesday. Marqeta has a 1-year low of $4.40 and a 1-year high of $7.36. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -297.35 and a beta of 1.73. The company’s fifty day moving average price is $5.14 and its two-hundred day moving average price is $5.30.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MQ. Morgan Stanley reduced their price target on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday. UBS Group decreased their price target on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. KeyCorp cut shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. William Blair downgraded Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, Wells Fargo & Company cut 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 research note on Tuesday. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Marqeta has an average rating of “Hold” and an average price target of $6.63.

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.