Susquehanna Has Lowered Expectations for Marqeta (NASDAQ:MQ) Stock Price

Marqeta (NASDAQ:MQ) had its price objective cut by Susquehanna from $9.00 to $7.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a positive rating on the stock.

Several other research firms have also recently issued reports on MQ. Monness Crespi & Hardt cut shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a research report on Tuesday. UBS Group dropped their price objective on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut Marqeta from a “buy” rating to a “hold” rating and decreased their target price for the stock from $9.00 to $4.00 in a research note on Tuesday. KeyCorp lowered shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Marqeta from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Marqeta has a consensus rating of “Hold” and a consensus price target of $6.33.

Marqeta Trading Down 42.5 %

Shares of NASDAQ MQ opened at $3.42 on Tuesday. The stock has a market cap of $1.74 billion, a P/E ratio of -170.91 and a beta of 1.73. The business’s fifty day simple moving average is $5.14 and its 200-day simple moving average is $5.30. Marqeta has a 12-month low of $3.37 and a 12-month high of $7.36.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) earnings per share. On average, equities analysts forecast 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 the company. Allspring Global Investments Holdings LLC increased its position in Marqeta by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock worth $281,000 after purchasing an additional 3,979 shares during the period. Empowered Funds LLC purchased a new position in Marqeta in the first quarter worth $65,000. Swiss National Bank lifted its holdings in Marqeta by 4.6% in the first quarter. Swiss National Bank now owns 784,700 shares of the company’s stock valued at $4,677,000 after acquiring an additional 34,300 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Marqeta by 7,852.8% during the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after purchasing an additional 9,973 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Marqeta by 6.6% in the 1st quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock valued at $505,000 after purchasing an additional 5,257 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.