KeyCorp Lowers Marqeta (NASDAQ:MQ) Price Target to $10.00

Marqeta (NASDAQ:MQGet Rating) had its target price dropped by analysts at KeyCorp from $15.00 to $10.00 in a report released on Thursday, The Fly reports. KeyCorp’s target price would indicate a potential upside of 50.83% from the stock’s previous close.

MQ has been the subject of a number of other reports. Zacks Investment Research downgraded Marqeta from a “buy” rating to a “hold” rating in a report on Wednesday, January 12th. Barclays increased their price objective on shares of Marqeta from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 6th. Credit Suisse Group assumed coverage on shares of Marqeta in a research report on Tuesday, May 3rd. They set an “outperform” rating and a $13.50 price objective on the stock. Truist Financial cut their price objective on shares of Marqeta from $30.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, March 10th. Finally, Loop Capital cut their price objective on shares of Marqeta from $19.00 to $13.00 in a research report on Thursday, March 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $19.38.

NASDAQ MQ opened at $6.63 on Thursday. Marqeta has a twelve month low of $6.39 and a twelve month high of $37.90. The stock has a fifty day simple moving average of $10.23 and a 200 day simple moving average of $14.93.

Marqeta (NASDAQ:MQGet Rating) last issued its quarterly earnings results on Wednesday, March 9th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. Marqeta had a negative return on equity of 14.51% and a negative net margin of 31.70%. The firm had revenue of $155.41 million during the quarter, compared to the consensus estimate of $137.79 million. The firm’s revenue was up 76.2% on a year-over-year basis. On average, sell-side analysts anticipate that Marqeta will post -0.37 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Advisor Group Holdings Inc. increased its stake in shares of Marqeta by 96.5% during the 3rd quarter. Advisor Group Holdings Inc. now owns 1,240 shares of the company’s stock worth $28,000 after purchasing an additional 609 shares during the last quarter. Aaron Wealth Advisors LLC purchased a new stake in shares of Marqeta during the 1st quarter worth approximately $200,000. PNC Financial Services Group Inc. purchased a new stake in shares of Marqeta during the 3rd quarter worth approximately $52,000. Bronson Point Management LLC purchased a new stake in shares of Marqeta during the 4th quarter worth approximately $52,000. Finally, CWM LLC purchased a new stake in shares of Marqeta during the 4th quarter worth approximately $54,000. 50.31% of the stock is currently owned by hedge funds and other institutional investors.

Marqeta Company Profile (Get Rating)

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions.

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