Marqeta (NASDAQ:MQ – Get Rating) released its earnings results on Wednesday. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.02, MarketWatch Earnings reports. The firm had revenue of $155.41 million for the quarter, compared to the consensus estimate of $137.79 million. Marqeta had a negative net margin of 31.31% and a negative return on equity of 20.63%. The company’s revenue for the quarter was up 76.2% compared to the same quarter last year.
MQ stock opened at $10.01 on Friday. The firm has a 50-day simple moving average of $11.83 and a two-hundred day simple moving average of $19.49. Marqeta has a one year low of $8.40 and a one year high of $37.90.
A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its holdings in shares of Marqeta by 2,525.0% during the 3rd quarter. Royal Bank of Canada now owns 4,200 shares of the company’s stock worth $93,000 after acquiring an additional 4,040 shares during the period. Legal & General Group Plc acquired a new stake in shares of Marqeta during the 4th quarter worth about $268,000. Stifel Financial Corp acquired a new position in Marqeta in the 4th quarter valued at about $481,000. Bank of New York Mellon Corp grew its position in Marqeta by 34.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 33,686 shares of the company’s stock valued at $745,000 after acquiring an additional 8,640 shares in the last quarter. Finally, LPL Financial LLC acquired a new position in Marqeta in the 4th quarter valued at about $1,153,000. Institutional investors own 25.03% of the company’s stock.
MQ has been the topic of a number of recent research reports. Truist Financial decreased their price target on shares of Marqeta from $30.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday. KeyCorp cut their price objective on shares of Marqeta from $25.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday. William Blair reiterated an “outperform” rating on shares of Marqeta in a research report on Thursday. Loop Capital cut their price objective on shares of Marqeta from $19.00 to $13.00 in a research report on Thursday. Finally, The Goldman Sachs Group assumed coverage on shares of Marqeta in a research report on Tuesday, January 18th. They set a “neutral” rating and a $18.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $21.85.
About Marqeta (Get Rating)
Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in the various verticals, including commerce disruptors, digital banks, tech giants, and large financial institutions.
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