Marqeta, Inc. (NASDAQ:MQ - Free Report) - Equities research analysts at William Blair increased their Q2 2024 earnings estimates for Marqeta in a research report issued to clients and investors on Wednesday, May 8th. William Blair analyst C. Kennedy now anticipates that the company will earn $0.20 per share for the quarter, up from their previous forecast of ($0.11). William Blair has a "Outperform" rating on the stock. The consensus estimate for Marqeta's current full-year earnings is ($0.35) per share. William Blair also issued estimates for Marqeta's Q3 2024 earnings at ($0.05) EPS, Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at $0.03 EPS and FY2025 earnings at ($0.17) EPS.
Marqeta (NASDAQ:MQ - Get Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. The business had revenue of $117.90 million during the quarter, compared to analyst estimates of $117.05 million. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The business's quarterly revenue was down 45.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.13) earnings per share.
Several other equities research analysts also recently commented on the company. Wells Fargo & Company upped their target price on Marqeta from $6.00 to $7.00 and gave the company an "equal weight" rating in a report on Tuesday, February 6th. Keefe, Bruyette & Woods lifted their target price on shares of Marqeta from $7.00 to $8.00 and gave the stock a "market perform" rating in a research report on Friday, March 1st. Barclays reduced their price target on shares of Marqeta from $8.00 to $7.00 and set an "overweight" rating for the company in a research report on Thursday. Bank of America upgraded Marqeta from a "neutral" rating to a "buy" rating and set a $7.00 target price for the company in a report on Monday, February 12th. Finally, Monness Crespi & Hardt lifted their price target on Marqeta from $7.50 to $8.00 and gave the company a "buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.43.
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Marqeta Price Performance
Shares of NASDAQ:MQ traded down $0.39 on Friday, reaching $5.51. 5,622,247 shares of the company traded hands, compared to its average volume of 5,149,595. The stock has a market capitalization of $2.83 billion, a PE ratio of -14.05 and a beta of 1.81. The company's 50 day moving average is $5.80 and its 200-day moving average is $6.06. Marqeta has a fifty-two week low of $4.12 and a fifty-two week high of $7.36.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in Marqeta by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,735,953 shares of the company's stock worth $10,381,000 after acquiring an additional 19,532 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Marqeta by 23.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,551 shares of the company's stock valued at $500,000 after purchasing an additional 15,865 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Marqeta by 13.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 208,127 shares of the company's stock valued at $1,245,000 after buying an additional 25,000 shares during the last quarter. Principal Financial Group Inc. increased its position in Marqeta by 31.8% in the 3rd quarter. Principal Financial Group Inc. now owns 69,650 shares of the company's stock worth $417,000 after buying an additional 16,814 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Marqeta by 1.8% during the third quarter. Arizona State Retirement System now owns 110,657 shares of the company's stock worth $662,000 after buying an additional 1,957 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.
About Marqeta
(
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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.
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