Mizuho Issues Pessimistic Forecast for Marqeta (NASDAQ:MQ) Stock Price

Marqeta (NASDAQ:MQ) had its price target cut by equities research analysts at Mizuho from $7.00 to $5.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective would suggest a potential upside of 31.58% from the company’s previous close.

A number of other equities research analysts have also commented on MQ. Monness Crespi & Hardt lowered Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target on the stock. in a research report on Tuesday. Morgan Stanley cut their price target on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Wells Fargo & Company lowered shares of Marqeta from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $7.00 to $5.00 in a report on Tuesday. KeyCorp lowered shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. Finally, UBS Group dropped their price target on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.27.

Marqeta Stock Performance

Shares of NASDAQ MQ opened at $3.80 on Tuesday. Marqeta has a 52-week low of $3.37 and a 52-week high of $7.36. The stock has a market cap of $1.93 billion, a P/E ratio of 190.00 and a beta of 1.73. The firm has a 50 day moving average price of $5.11 and a 200 day moving average price of $5.29.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results 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 firm had revenue of $127.90 million during the quarter, compared to analyst estimates of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.17%. Marqeta’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the firm earned ($0.07) EPS. Analysts predict that Marqeta will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marqeta

Several hedge funds and other institutional investors have recently made changes to their positions in MQ. Visa Foundation bought a new position in Marqeta during the second quarter worth about $68,197,000. Capital International Investors lifted its position in shares of Marqeta by 203.1% in the first quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock valued at $40,998,000 after buying an additional 4,609,526 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Marqeta by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock worth $282,717,000 after acquiring an additional 1,642,621 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Marqeta by 27.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock worth $44,216,000 after acquiring an additional 1,604,223 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Marqeta by 65.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company’s stock worth $14,362,000 after acquiring an additional 1,038,577 shares during the last quarter. 78.64% of the stock is owned by 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.