Marqeta (NASDAQ:MQ) Price Target Cut to $4.00 by Analysts at The Goldman Sachs Group

Marqeta (NASDAQ:MQ) had its price target reduced by The Goldman Sachs Group from $4.50 to $4.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

MQ has been the subject of several other reports. Wells Fargo & Company reduced their target price on Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Keefe, Bruyette & Woods decreased their price objective on Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a report on Monday, January 6th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $4.00 target price (down from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.29.

Marqeta Price Performance

NASDAQ:MQ opened at $4.25 on Wednesday. Marqeta has a 12 month low of $3.37 and a 12 month high of $6.25. The firm has a market capitalization of $2.14 billion, a PE ratio of 212.50 and a beta of 1.49. The business’s fifty day moving average price is $3.99 and its 200 day moving average price is $4.22.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. The business had revenue of $135.79 million for the quarter, compared to the consensus estimate of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. As a group, equities analysts anticipate that Marqeta will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Marqeta

A number of large investors have recently modified their holdings of MQ. T. Rowe Price Investment Management Inc. purchased a new position in shares of Marqeta in the 4th quarter valued at about $72,879,000. Price T Rowe Associates Inc. MD increased its holdings in Marqeta by 5,396.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company’s stock valued at $68,862,000 after buying an additional 17,838,535 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Marqeta by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company’s stock valued at $41,819,000 after acquiring an additional 318,184 shares during the period. RPD Fund Management LLC purchased a new stake in shares of Marqeta during the 4th quarter worth approximately $37,289,000. Finally, North Reef Capital Management LP grew its holdings in shares of Marqeta by 99.7% in the 4th quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company’s stock worth $29,513,000 after acquiring an additional 3,886,999 shares during the period. 78.64% of the stock is owned by hedge funds and other institutional investors.

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.