Marqeta (NASDAQ:MQ) Price Target Lowered to $5.00 at Mizuho

Marqeta (NASDAQ:MQ) had its price target cut by Mizuho from $7.00 to $5.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently commented on the company. Morgan Stanley decreased their price objective on Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods cut their price target on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Tuesday. UBS Group decreased 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. Finally, William Blair lowered shares of Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Marqeta has a consensus rating of “Hold” and a consensus target price of $6.33.

Marqeta Stock Performance

NASDAQ:MQ opened at $3.42 on Tuesday. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -170.91 and a beta of 1.73. The stock’s fifty day moving average price is $5.14 and its two-hundred day moving average price is $5.30. Marqeta has a 52-week low of $3.37 and a 52-week high of $7.36.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same period last year, the company earned ($0.07) EPS. On average, equities analysts predict that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MQ. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Marqeta by 8.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock valued at $246,000 after purchasing an additional 3,548 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Marqeta by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock valued at $281,000 after acquiring an additional 3,979 shares during the period. Covestor Ltd lifted its holdings in Marqeta by 17,340.0% during the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock valued at $26,000 after purchasing an additional 4,335 shares during the last quarter. ProShare Advisors LLC boosted its position in Marqeta by 6.6% during the first quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock worth $505,000 after purchasing an additional 5,257 shares during the period. Finally, J.Safra Asset Management Corp increased its holdings in shares of Marqeta by 633.2% in the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after purchasing an additional 5,300 shares during the last quarter. Institutional investors and hedge funds 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.