FY2024 Earnings Forecast for Marqeta Issued By William Blair

Marqeta, Inc. (NASDAQ:MQ) – Stock analysts at William Blair decreased their FY2024 earnings per share (EPS) estimates for shares of Marqeta in a note issued to investors on Tuesday, November 5th. William Blair analyst C. Kennedy now forecasts that the company will earn $0.07 per share for the year, down from their previous forecast of $0.11. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Marqeta’s current full-year earnings is $0.06 per share. William Blair also issued estimates for Marqeta’s Q4 2024 earnings at ($0.04) EPS and FY2025 earnings at ($0.17) EPS.

Several other equities research analysts have also recently weighed in on MQ. UBS Group decreased their target price on Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Morgan Stanley dropped their price objective on Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday. Monness Crespi & Hardt lowered Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target on the stock. in a research report on Tuesday. Keefe, Bruyette & Woods lowered their target price 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, KeyCorp cut shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.27.

Marqeta Price Performance

MQ opened at $3.83 on Thursday. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 193.50 and a beta of 1.73. The business has a fifty day moving average price of $5.08 and a 200 day moving average price of $5.28. Marqeta has a 12 month low of $3.37 and a 12 month high of $7.36.

Marqeta (NASDAQ:MQ) last posted its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. Marqeta had a return on equity of 1.17% and a net margin of 2.86%. Marqeta’s revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) EPS.

Hedge Funds Weigh In On Marqeta

A number of hedge funds have recently made changes to their positions in the business. Congress Asset Management Co. lifted its holdings in Marqeta by 46.8% in the 3rd quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock worth $5,194,000 after buying an additional 336,349 shares in the last quarter. Visa Foundation purchased a new position in Marqeta in the second quarter valued at about $68,197,000. Vanguard Group Inc. grew its stake in Marqeta by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock valued at $282,717,000 after purchasing an additional 1,642,621 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Marqeta by 27.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock worth $44,216,000 after purchasing an additional 1,604,223 shares during the last quarter. Finally, Comerica Bank raised its position in shares of Marqeta by 27.8% in the 1st quarter. Comerica Bank now owns 1,007,954 shares of the company’s stock valued at $6,007,000 after purchasing an additional 219,001 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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.