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

Marqeta (NASDAQ:MQ) had its target price decreased by The Goldman Sachs Group from $4.50 to $4.00 in a report published on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other equities analysts have also recently commented on MQ. Keefe, Bruyette & Woods cut their price target on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a research note on Monday, January 6th. Barclays reissued an “equal weight” rating and issued a $4.00 target price (down previously from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company dropped their price target on Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Marqeta has a consensus rating of “Hold” and an average price target of $5.29.

Marqeta Stock Performance

Shares of MQ stock opened at $3.71 on Wednesday. Marqeta has a 52-week low of $3.37 and a 52-week high of $6.12. The business’s fifty day moving average is $3.99 and its 200 day moving average is $4.21. The company has a market capitalization of $1.87 billion, a PE ratio of 185.50 and a beta of 1.49.

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, beating analysts’ consensus estimates of ($0.10) by $0.05. The firm had revenue of $135.79 million during the quarter, compared to the consensus estimate of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. On average, sell-side analysts forecast that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. bought a new stake in Marqeta during the 4th quarter valued at $72,879,000. Price T Rowe Associates Inc. MD raised its stake in shares of Marqeta by 5,396.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company’s stock valued at $68,862,000 after acquiring an additional 17,838,535 shares during the last quarter. RPD Fund Management LLC purchased a new stake in shares of Marqeta during the fourth quarter worth about $37,289,000. Wellington Management Group LLP bought a new stake in shares of Marqeta in the fourth quarter worth about $19,717,000. Finally, North Reef Capital Management LP increased its holdings in Marqeta by 99.7% during the 4th quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company’s stock valued at $29,513,000 after purchasing an additional 3,886,999 shares during the period. Institutional investors own 78.64% of the company’s stock.

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.