Marqeta (NASDAQ:MQ) Issues Earnings Results

Marqeta (NASDAQ:MQ) announced its quarterly earnings results on Tuesday. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01, Briefing.com reports. The business had revenue of $117.90 million for the quarter, compared to analyst estimates of $117.05 million. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The company’s quarterly revenue was down 45.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.13) EPS.

Marqeta Trading Up 1.0 %

Marqeta stock opened at $5.90 on Friday. The stock has a fifty day moving average price of $5.80 and a 200 day moving average price of $6.06. Marqeta has a 52 week low of $4.07 and a 52 week high of $7.36. The firm has a market capitalization of $3.03 billion, a P/E ratio of -14.05 and a beta of 1.81.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Bank of America raised shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Monday, February 12th. Barclays lowered their target price on Marqeta from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods lifted their price objective on Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Friday, March 1st. Monness Crespi & Hardt upped their target price on shares of Marqeta from $7.50 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, William Blair reiterated an “outperform” rating on shares of Marqeta in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.43.

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.