Marqeta (NASDAQ:MQ) Rating Reiterated by The Goldman Sachs Group

Marqeta (NASDAQ:MQ)‘s stock had its “neutral” rating reaffirmed by investment analysts at The Goldman Sachs Group in a report issued on Monday, MarketBeat reports. They currently have a $5.50 target price on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 1.66% from the company’s current price.

MQ has been the topic of a number of other research reports. Keefe, Bruyette & Woods upped their target price on Marqeta from $7.00 to $8.00 and gave the stock a “market perform” rating in a research note on Friday, March 1st. Monness Crespi & Hardt upped their target price on Marqeta from $7.50 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Wedbush restated a “neutral” rating and issued a $6.00 target price on shares of Marqeta in a research note on Wednesday, May 8th. Mizuho lowered their target price on Marqeta from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. Finally, Truist Financial restated a “buy” rating and issued a $10.00 target price (up previously from $9.00) on shares of Marqeta in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.25.

Marqeta Stock Performance

Marqeta stock opened at $5.41 on Monday. The business’s 50-day simple moving average is $5.44 and its two-hundred day simple moving average is $5.95. The company has a market cap of $2.80 billion, a PE ratio of -15.03 and a beta of 1.78. Marqeta has a fifty-two week low of $4.62 and a fifty-two week high of $7.36.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The business had revenue of $117.90 million for the quarter, compared to the consensus estimate of $117.05 million. Marqeta had a negative return on equity of 11.84% and a negative net margin of 32.98%. The company’s quarterly revenue was down 45.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.13) EPS. As a group, analysts predict that Marqeta will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Marqeta

Several hedge funds and other institutional investors have recently made changes to their positions in MQ. Covestor Ltd increased its holdings in shares of Marqeta by 17,340.0% in the first 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. Russell Investments Group Ltd. grew its position in Marqeta by 7,852.8% in the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after acquiring an additional 9,973 shares during the period. Profund Advisors LLC purchased a new position in Marqeta in the third quarter worth approximately $62,000. Empowered Funds LLC purchased a new position in Marqeta in the first quarter worth approximately $65,000. Finally, SVB Wealth LLC purchased a new position in Marqeta in the fourth quarter worth approximately $70,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

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.