Marqeta (NASDAQ:MQ) Lowered to Market Perform Rating by William Blair

William Blair lowered shares of Marqeta (NASDAQ:MQ) from an outperform rating to a market perform rating in a research report released on Tuesday, Marketbeat.com reports.

Several other equities analysts also recently issued reports on MQ. UBS Group cut their price objective on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Keefe, Bruyette & Woods cut 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 note on Monday, July 8th. JPMorgan Chase & Co. lowered their price objective on shares of Marqeta from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Susquehanna reissued a “positive” rating and issued a $9.00 target price on shares of Marqeta in a research report on Tuesday, August 6th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.33.

Marqeta Price Performance

Shares of NASDAQ MQ opened at $3.42 on Tuesday. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.36. The business has a fifty day moving average price of $5.14 and a 200 day moving average price of $5.30. The stock has a market capitalization of $1.74 billion, a P/E ratio of -170.91 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last released 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). Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The firm had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.05 million. During the same period in the previous year, the company posted ($0.07) earnings per share. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Marqeta will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Marqeta

A number of hedge funds have recently added to or reduced their stakes in the company. Visa Foundation acquired a new stake in Marqeta in the second quarter valued at approximately $68,197,000. Capital International Investors grew its stake in Marqeta by 203.1% in the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock valued at $40,998,000 after acquiring an additional 4,609,526 shares during the period. Vanguard Group Inc. increased its holdings in Marqeta by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock worth $282,717,000 after acquiring an additional 1,642,621 shares in the last quarter. Westfield Capital Management Co. LP raised its position in Marqeta by 27.6% during the first quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock worth $44,216,000 after acquiring an additional 1,604,223 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Marqeta by 65.6% during the second quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company’s stock valued at $14,362,000 after purchasing an additional 1,038,577 shares in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

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.