Marqeta (NASDAQ:MQ) Stock Rating Lowered by Monness Crespi & Hardt

Marqeta (NASDAQ:MQ) was downgraded by research analysts at Monness Crespi & Hardt from a “buy” rating to a “neutral” rating in a report issued on Tuesday, Marketbeat Ratings reports. They currently have a $7.50 price objective on the stock. Monness Crespi & Hardt’s price target points to a potential upside of 97.37% from the company’s current price.

MQ has been the subject of several other reports. Susquehanna reaffirmed a “positive” rating and set a $9.00 price objective on shares of Marqeta in a research note on Tuesday, August 6th. William Blair cut Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday. UBS Group lowered their price objective on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Keefe, Bruyette & Woods cut their price objective on shares of Marqeta from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Monday, July 8th. Finally, KeyCorp downgraded shares of Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday. 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, the company presently has a consensus rating of “Hold” and a consensus target price of $6.27.

Marqeta Trading Up 11.1 %

MQ stock opened at $3.80 on Tuesday. The business has a 50 day simple moving average of $5.11 and a 200-day simple moving average of $5.29. The company has a market capitalization of $1.93 billion, a P/E ratio of 190.00 and a beta of 1.73. Marqeta has a twelve month low of $3.37 and a twelve month high of $7.36.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data 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). Marqeta had a return on equity of 1.17% and a net margin of 2.86%. The business had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.05 million. During the same period in the previous year, the business posted ($0.07) earnings per share. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. Research analysts predict that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Covestor Ltd lifted its holdings in Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock valued at $26,000 after purchasing an additional 4,335 shares in the last quarter. J.Safra Asset Management Corp raised its position in shares of 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 buying an additional 5,300 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Marqeta by 7,852.8% during the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after acquiring an additional 9,973 shares during the last quarter. Magnetar Financial LLC acquired a new stake in Marqeta during the second quarter worth approximately $61,000. Finally, Empowered Funds LLC purchased a new stake in Marqeta in the 1st quarter worth approximately $65,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

About Marqeta

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.