The Goldman Sachs Group Has Lowered Expectations for Marqeta (NASDAQ:MQ) Stock Price

Marqeta (NASDAQ:MQ) had its target price cut by analysts at The Goldman Sachs Group from $4.50 to $4.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 4.17% from the stock’s previous close.

A number of other research firms have also recently weighed in on MQ. Deutsche Bank Aktiengesellschaft cut shares of Marqeta from a “buy” rating to a “hold” rating and lowered their target price for the company from $9.00 to $4.00 in a research note on Tuesday, November 5th. William Blair cut shares of Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods decreased their price objective on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 5th. KeyCorp cut shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Finally, Mizuho decreased their price objective on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. 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 currently has a consensus rating of “Hold” and an average price target of $6.23.

Marqeta Stock Performance

Shares of NASDAQ:MQ traded down $0.04 on Monday, hitting $3.84. 1,649,333 shares of the company were exchanged, compared to its average volume of 5,300,286. The company’s 50 day moving average price is $4.68 and its two-hundred day moving average price is $5.07. Marqeta has a one year low of $3.37 and a one year high of $7.36. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 192.00 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last posted its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The business’s revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.07) EPS. Research analysts predict that Marqeta will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. J.Safra Asset Management Corp grew its position in 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 in the last quarter. Magnetar Financial LLC acquired a new stake in Marqeta in the second quarter valued at $61,000. Point72 DIFC Ltd acquired a new stake in Marqeta in the third quarter valued at $57,000. CreativeOne Wealth LLC acquired a new stake in Marqeta in the third quarter valued at $59,000. Finally, XTX Topco Ltd acquired a new stake in Marqeta in the second quarter valued at $72,000. Institutional investors 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.