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

Marqeta (NASDAQ:MQ) issued 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. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The business had revenue of $117.90 million for the quarter, compared to analyst estimates of $117.05 million. During the same period in the prior year, the firm earned ($0.13) earnings per share. Marqeta’s revenue was down 45.8% on a year-over-year basis.

Marqeta Trading Down 3.1 %

Shares of MQ stock traded down $0.18 during trading on Wednesday, hitting $5.65. The company’s stock had a trading volume of 4,242,848 shares, compared to its average volume of 5,043,231. The company has a market cap of $2.90 billion, a PE ratio of -13.88 and a beta of 1.81. The business has a fifty day moving average of $5.84 and a 200-day moving average of $6.06. Marqeta has a 52 week low of $4.07 and a 52 week high of $7.36.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Marqeta from $6.00 to $7.00 and gave the stock 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 on the stock in a report on Monday, February 12th. Barclays boosted their price objective on Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. William Blair reiterated an “outperform” rating on shares of Marqeta in a report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Marqeta presently has a consensus rating of “Moderate Buy” and an average price target of $7.61.

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.