Marqeta (NASDAQ:MQ) Given New $7.00 Price Target at Mizuho

Marqeta (NASDAQ:MQ) had its price target decreased by Mizuho from $8.00 to $7.00 in a research note issued to investors on Tuesday, Benzinga reports. Mizuho currently has a buy rating on the stock.

Several other research analysts also recently weighed in on MQ. William Blair restated an outperform rating on shares of Marqeta in a report on Wednesday, May 8th. Truist Financial reiterated a buy rating and issued a $10.00 target price (up from $9.00) on shares of Marqeta in a research note on Thursday, February 29th. Keefe, Bruyette & Woods lifted their price target on Marqeta from $7.00 to $8.00 and gave the stock a market perform rating in a research note on Friday, March 1st. Monness Crespi & Hardt lifted their price target on Marqeta from $7.50 to $8.00 and gave the stock a buy rating in a research note on Wednesday, May 8th. Finally, Barclays cut their price objective on Marqeta from $8.00 to $7.00 and set an overweight rating on the stock in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $7.37.

Marqeta Stock Performance

Marqeta stock opened at $5.38 on Tuesday. Marqeta has a one year low of $4.59 and a one year high of $7.36. The stock’s fifty day moving average price is $5.69 and its two-hundred day moving average price is $6.08.

Marqeta (NASDAQ:MQ) last announced its earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. Marqeta had a negative return on equity of 11.84% and a negative net margin of 32.98%. The business had revenue of $117.90 million during the quarter, compared to analyst estimates of $117.05 million. During the same period last year, the company earned ($0.13) EPS. Marqeta’s revenue for the quarter was down 45.8% compared to the same quarter last year. As a group, equities research analysts forecast that Marqeta will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Marqeta

Large investors have recently made changes to their positions in the stock. Avior Wealth Management LLC increased its stake in shares of Marqeta by 8.8% in the fourth quarter. Avior Wealth Management LLC now owns 21,253 shares of the company’s stock worth $148,000 after acquiring an additional 1,719 shares during the period. Aigen Investment Management LP lifted its holdings in shares of Marqeta by 6.7% in the 3rd quarter. Aigen Investment Management LP now owns 28,095 shares of the company’s stock valued at $168,000 after buying an additional 1,763 shares during the period. Arizona State Retirement System boosted its stake in shares of Marqeta by 1.8% in 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. Amalgamated Bank grew its holdings in Marqeta by 4.9% during the third quarter. Amalgamated Bank now owns 51,433 shares of the company’s stock worth $308,000 after acquiring an additional 2,395 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Marqeta by 20.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 19,144 shares of the company’s stock valued at $114,000 after acquiring an additional 3,310 shares during the period. 78.64% of the stock is owned by hedge funds and other institutional investors.

About Marqeta

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.