Marqeta (NASDAQ:MQ – Get Rating) issued its quarterly earnings data on Tuesday. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03), Briefing.com reports. Marqeta had a negative return on equity of 12.19% and a negative net margin of 24.70%. The company had revenue of $217.40 million for the quarter, compared to the consensus estimate of $211.79 million. During the same quarter last year, the business earned ($0.11) earnings per share. Marqeta’s revenue was up 30.9% compared to the same quarter last year. Marqeta updated its Q2 2023 guidance to EPS.
Marqeta Price Performance
Shares of MQ opened at $4.23 on Thursday. The firm has a market cap of $2.28 billion, a PE ratio of -12.44 and a beta of 1.80. The stock’s fifty day moving average price is $4.24 and its two-hundred day moving average price is $5.72. Marqeta has a 1 year low of $3.46 and a 1 year high of $12.06.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on MQ shares. Credit Suisse Group decreased their target price on Marqeta from $13.50 to $8.00 and set an “outperform” rating for the company in a research note on Wednesday, March 1st. Mizuho reduced their price objective on Marqeta from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, March 29th. Keefe, Bruyette & Woods reduced their price objective on Marqeta from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Tuesday, April 11th. Citigroup cut their target price on Marqeta from $13.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Marqeta in a research report on Thursday, April 6th. They set a “buy” rating and a $7.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Marqeta has a consensus rating of “Hold” and a consensus price target of $7.21.
Hedge Funds Weigh In On Marqeta
Several hedge funds have recently made changes to their positions in the stock. Point72 Middle East FZE purchased a new position in shares of Marqeta in the fourth quarter valued at $153,000. Bridgefront Capital LLC purchased a new position in shares of Marqeta in the fourth quarter valued at $67,000. PFS Investments Inc. purchased a new position in shares of Marqeta in the fourth quarter valued at $67,000. Cerity Partners LLC grew its position in shares of Marqeta by 138.7% in the fourth quarter. Cerity Partners LLC now owns 73,289 shares of the company’s stock valued at $448,000 after purchasing an additional 42,590 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Marqeta in the fourth quarter valued at $268,000. 61.35% of the stock is currently 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 to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions.
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