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

Marqeta (NASDAQ:MQ) released its earnings results on Tuesday. The company reported ($0.07) earnings per share (EPS) for the quarter, topping 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%. Marqeta’s revenue was down 45.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.13) earnings per share.

Marqeta Trading Down 2.4 %

Shares of MQ traded down $0.14 on Wednesday, reaching $5.69. The company’s stock had a trading volume of 6,121,276 shares, compared to its average volume of 5,065,342. The stock has a market capitalization of $2.92 billion, a PE ratio of -13.45 and a beta of 1.81. Marqeta has a twelve month low of $4.07 and a twelve month high of $7.36. The firm has a fifty day moving average of $5.84 and a 200-day moving average of $6.06.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wedbush restated a “neutral” rating and issued a $6.00 price target on shares of Marqeta in a research note on Wednesday. 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 research report on Tuesday, February 6th. Bank of America upgraded Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Monday, February 12th. Monness Crespi & Hardt lifted their target price on Marqeta from $7.50 to $8.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Truist Financial reiterated a “buy” rating and issued a $10.00 price objective (up previously from $9.00) on shares of Marqeta in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.