Marqeta (NASDAQ:MQ) Price Target Lowered to $4.00 at The Goldman Sachs Group

Marqeta (NASDAQ:MQ) had its price target dropped by equities researchers at The Goldman Sachs Group from $4.50 to $4.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential downside of 6.10% from the stock’s previous close.

MQ has been the subject of a number of other reports. Wells Fargo & Company decreased their price target on Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Barclays restated an “equal weight” rating and set a $4.00 target price (down previously from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods cut their price target on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a report on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Marqeta presently has a consensus rating of “Hold” and a consensus target price of $5.29.

Marqeta Price Performance

Shares of Marqeta stock traded up $0.01 during midday trading on Wednesday, reaching $4.26. The company had a trading volume of 1,669,559 shares, compared to its average volume of 5,561,312. The firm has a market cap of $2.15 billion, a PE ratio of 213.00 and a beta of 1.49. The stock has a fifty day moving average price of $3.98 and a 200 day moving average price of $4.22. Marqeta has a fifty-two week low of $3.37 and a fifty-two week high of $6.25.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm had revenue of $135.79 million for the quarter, compared to the consensus estimate of $132.71 million. As a group, sell-side analysts forecast that Marqeta will post 0.06 EPS for the current year.

Institutional Investors Weigh In On Marqeta

Several institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in Marqeta in the 4th quarter worth about $33,000. Blueshift Asset Management LLC purchased a new position in shares of Marqeta in the 4th quarter worth approximately $38,000. Covestor Ltd grew its holdings in shares of Marqeta by 1,255.4% in the fourth quarter. Covestor Ltd now owns 10,030 shares of the company’s stock valued at $38,000 after acquiring an additional 9,290 shares in the last quarter. Bank of Montreal Can increased its position in shares of Marqeta by 125.6% during the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock valued at $38,000 after acquiring an additional 49,243 shares during the last quarter. Finally, Stifel Financial Corp purchased a new stake in shares of Marqeta during the fourth quarter valued at approximately $41,000. Institutional investors own 78.64% of the company’s stock.

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.