Marqeta (NASDAQ:MQ) Given New $4.50 Price Target at The Goldman Sachs Group

Marqeta (NASDAQ:MQ) had its price objective lowered by stock analysts at The Goldman Sachs Group from $5.50 to $4.50 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 27.48% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft lowered Marqeta from a “buy” rating to a “hold” rating and lowered their price target for the company from $9.00 to $4.00 in a research note on Tuesday. Wells Fargo & Company cut Marqeta from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $7.00 to $5.00 in a report on Tuesday. KeyCorp downgraded shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, UBS Group dropped 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. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.27.

Marqeta Trading Up 3.2 %

Shares of MQ traded up $0.11 during trading hours on Wednesday, hitting $3.53. The company had a trading volume of 17,411,154 shares, compared to its average volume of 4,947,477. The company has a market capitalization of $1.79 billion, a PE ratio of -176.91 and a beta of 1.73. Marqeta has a one year low of $3.37 and a one year high of $7.36. The company’s fifty day moving average price is $5.11 and its two-hundred day moving average price is $5.29.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data 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 company had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $128.05 million. Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.07) EPS. Analysts forecast that Marqeta will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Visa Foundation acquired a new stake in Marqeta during the 2nd quarter valued at $68,197,000. Congress Asset Management Co. lifted its position in Marqeta by 46.8% during the third quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock worth $5,194,000 after acquiring an additional 336,349 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Marqeta by 3.6% in 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 during the last quarter. Westfield Capital Management Co. LP increased 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 worth $44,216,000 after purchasing an additional 1,604,223 shares during the period. Finally, Comerica Bank boosted its stake in Marqeta by 27.8% in the 1st quarter. Comerica Bank now owns 1,007,954 shares of the company’s stock valued at $6,007,000 after purchasing an additional 219,001 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

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.