Marqeta (NASDAQ:MQ) Posts Earnings Results, Misses Estimates By $0.01 EPS

Marqeta (NASDAQ:MQ) announced its quarterly earnings data on Monday. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01), Briefing.com reports. The company had revenue of $127.90 million during the quarter, compared to analyst estimates of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.17%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.07) EPS. Marqeta updated its Q4 2024 guidance to EPS.

Marqeta Stock Up 11.1 %

Shares of Marqeta stock opened at $3.80 on Thursday. Marqeta has a fifty-two week low of $3.37 and a fifty-two week high of $7.36. The business’s fifty day moving average is $5.11 and its two-hundred day moving average is $5.29. The firm has a market cap of $1.93 billion, a PE ratio of 190.00 and a beta of 1.73.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MQ shares. Susquehanna decreased their price target on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research note on Tuesday. Morgan Stanley decreased their target price on Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. dropped their price target on Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods decreased their price objective on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company downgraded shares of Marqeta from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $7.00 to $5.00 in a report on Tuesday. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.27.

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.