Marqeta (NASDAQ:MQ) Posts Quarterly Earnings Results

Marqeta (NASDAQ:MQ) released its quarterly earnings results on Monday. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01), Briefing.com reports. Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The business had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. During the same period last year, the firm posted ($0.07) EPS. The business’s quarterly revenue was up 20.8% on a year-over-year basis. Marqeta updated its Q4 2024 guidance to EPS.

Marqeta Stock Performance

Shares of NASDAQ MQ opened at $3.42 on Wednesday. The business has a 50 day simple moving average of $5.14 and a 200 day simple moving average of $5.30. Marqeta has a 52 week low of $3.37 and a 52 week high of $7.36. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -170.91 and a beta of 1.73.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. William Blair downgraded Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday. UBS Group reduced their price objective on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. Mizuho decreased their price target on Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday. Monness Crespi & Hardt cut shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective on the stock. in a research note on Tuesday. Finally, Wells Fargo & Company cut Marqeta from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $7.00 to $5.00 in a report on Tuesday. Ten 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, Marqeta has a consensus rating of “Hold” and an average price target of $6.33.

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.