William Blair Weighs in on Marqeta, Inc.’s Q2 2024 Earnings (NASDAQ:MQ)

Marqeta, Inc. (NASDAQ:MQ) – Equities research analysts at William Blair upped their Q2 2024 earnings estimates for shares of Marqeta in a research note issued to investors on Wednesday, May 8th. William Blair analyst C. Kennedy now forecasts that the company will earn $0.20 per share for the quarter, up from their previous forecast of ($0.11). William Blair has a “Outperform” rating on the stock. The consensus estimate for Marqeta’s current full-year earnings is ($0.35) per share. William Blair also issued estimates for Marqeta’s Q3 2024 earnings at ($0.05) EPS, Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at $0.03 EPS and FY2025 earnings at ($0.17) EPS.

Other equities analysts have also issued research reports about the stock. Barclays reduced their target price on shares of Marqeta from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods increased their target price on shares of Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Friday, March 1st. Wedbush reaffirmed a “neutral” rating and set a $6.00 target price on shares of Marqeta in a report on Wednesday. Monness Crespi & Hardt increased their target price on shares of Marqeta from $7.50 to $8.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company increased their target price on shares of Marqeta from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.43.

Marqeta Stock Performance

Marqeta stock opened at $5.90 on Friday. The firm’s fifty day moving average price is $5.80 and its 200-day moving average price is $6.06. The stock has a market cap of $3.03 billion, a P/E ratio of -14.05 and a beta of 1.81. Marqeta has a fifty-two week low of $4.07 and a fifty-two week high of $7.36.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The firm had revenue of $117.90 million for the quarter, compared to analysts’ expectations of $117.05 million. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The business’s quarterly revenue was down 45.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.13) EPS.

Institutional Investors Weigh In On Marqeta

Large investors have recently modified their holdings of the stock. SVB Wealth LLC bought a new stake in shares of Marqeta during the 4th quarter valued at about $70,000. Russell Investments Group Ltd. boosted its stake in shares of Marqeta by 7,852.8% during the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after purchasing an additional 9,973 shares in the last quarter. Profund Advisors LLC bought a new stake in shares of Marqeta during the 3rd quarter valued at about $62,000. Empowered Funds LLC bought a new stake in shares of Marqeta during the 1st quarter valued at about $65,000. Finally, Horizon Family Wealth Inc. bought a new stake in shares of Marqeta during the 3rd quarter valued at about $73,000. Institutional investors own 78.64% of the company’s stock.

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.