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

Marqeta (NASDAQ:MQ) issued its earnings results on Tuesday. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01, Briefing.com reports. The company had revenue of $117.90 million during the quarter, compared to the consensus estimate of $117.05 million. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The firm’s revenue for the quarter was down 45.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.13) EPS.

Marqeta Stock Down 3.4 %

Marqeta stock traded down $0.20 during trading hours on Thursday, hitting $5.64. The stock had a trading volume of 2,013,493 shares, compared to its average volume of 5,086,273. The stock has a market capitalization of $2.90 billion, a P/E ratio of -13.90 and a beta of 1.81. The stock’s 50-day moving average price is $5.81 and its 200-day moving average price is $6.06. Marqeta has a 12-month low of $4.07 and a 12-month high of $7.36.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MQ shares. Bank of America raised Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a report on Monday, February 12th. William Blair reiterated an “outperform” rating on shares of Marqeta in a research note on Wednesday. Wells Fargo & Company raised their target price on Marqeta from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Monness Crespi & Hardt boosted their price objective on Marqeta from $7.50 to $8.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wedbush reissued a “neutral” rating and set a $6.00 price objective on shares of Marqeta in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Marqeta currently has a consensus rating of “Moderate Buy” and an average 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.