Marqeta (NASDAQ:MQ) Given New $4.50 Price Target at The Goldman Sachs Group

Marqeta (NASDAQ:MQ) had its target price trimmed by The Goldman Sachs Group from $5.50 to $4.50 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts also recently issued reports on MQ. Wells Fargo & Company downgraded Marqeta from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $7.00 to $5.00 in a research report on Tuesday. Mizuho lowered their price target on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday. UBS Group reduced their price objective on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Keefe, Bruyette & Woods decreased their price objective on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Tuesday. Finally, Susquehanna dropped their target price on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a report on Tuesday. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.27.

Marqeta Stock Performance

Marqeta stock remained flat at $3.80 during midday trading on Wednesday. The company’s stock had a trading volume of 3,703,173 shares, compared to its average volume of 5,107,218. The firm has a market cap of $1.93 billion, a PE ratio of 193.50 and a beta of 1.73. Marqeta has a 1 year low of $3.37 and a 1 year high of $7.36. The firm’s 50 day moving average is $5.08 and its 200-day moving average is $5.28.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Marqeta had a net margin of 2.86% and a return on equity of 1.17%. The firm had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The firm’s revenue was up 20.8% on a year-over-year basis. Research analysts anticipate 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. Vanguard Group Inc. increased its position 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 valued at $282,717,000 after purchasing an additional 1,642,621 shares during the last quarter. Visa Foundation bought a new position in Marqeta during the second quarter valued at approximately $68,197,000. Dimensional Fund Advisors LP raised its stake in shares of Marqeta by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock worth $40,759,000 after acquiring an additional 389,045 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Marqeta by 27.6% in 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, Capital International Investors boosted its stake in shares of Marqeta by 203.1% in the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock valued at $40,998,000 after purchasing an additional 4,609,526 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

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.