Marqeta (NASDAQ:MQ) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Marqeta (NASDAQ:MQ - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01, Briefing.com reports. The firm 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 previous year, the business posted ($0.13) EPS.

Marqeta Price Performance

Shares of MQ traded up $0.01 on Wednesday, reaching $5.84. The company's stock had a trading volume of 11,356,264 shares, compared to its average volume of 5,122,880. The stock has a market capitalization of $3.00 billion, a P/E ratio of -13.90 and a beta of 1.81. The stock's 50 day simple moving average is $5.84 and its two-hundred day simple moving average is $6.06. Marqeta has a 12-month low of $4.07 and a 12-month high of $7.36.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wedbush reiterated a "neutral" rating and set a $6.00 price target on shares of Marqeta in a report on Wednesday. Truist Financial reiterated a "buy" rating and set a $10.00 price target (up from $9.00) on shares of Marqeta in a report on Thursday, February 29th. Bank of America upgraded shares of Marqeta from a "neutral" rating to a "buy" rating and set a $7.00 price target for the company in a report on Monday, February 12th. William Blair restated an "outperform" rating on shares of Marqeta in a report on Wednesday. Finally, Monness Crespi & Hardt raised their target price on shares of Marqeta from $7.50 to $8.00 and gave the stock a "buy" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.50.

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.