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

Marqeta (NASDAQ:MQ) announced its quarterly earnings data on Tuesday. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates 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 revenue was down 45.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.13) earnings per share.

Marqeta Stock Down 3.4 %

Marqeta stock traded down $0.20 during mid-day trading on Thursday, hitting $5.64. 2,013,493 shares of the company’s stock were exchanged, compared to its average volume of 5,086,273. The firm has a market capitalization of $2.90 billion, a P/E ratio of -13.90 and a beta of 1.81. The company’s 50 day simple moving average is $5.81 and its 200-day simple moving average is $6.06. Marqeta has a fifty-two week low of $4.07 and a fifty-two week high of $7.36.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MQ. Truist Financial reiterated a “buy” rating and issued a $10.00 price objective (up from $9.00) on shares of Marqeta in a research report on Thursday, February 29th. Wedbush reissued a “neutral” rating and set a $6.00 target price on shares of Marqeta in a research note on Wednesday. Monness Crespi & Hardt raised their price objective on shares of Marqeta from $7.50 to $8.00 and gave the company a “buy” rating in a report on Wednesday. Barclays raised their price objective on Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Finally, Wells Fargo & Company lifted their price objective on shares of Marqeta from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

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.