Marqeta (NASDAQ:MQ) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

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

Marqeta Price Performance

Shares of Marqeta stock traded up $0.38 during trading hours on Wednesday, hitting $3.80. The company had a trading volume of 53,137,940 shares, compared to its average volume of 3,746,837. The company’s 50-day moving average is $5.11 and its two-hundred day moving average is $5.29. Marqeta has a twelve month low of $3.37 and a twelve month high of $7.36. The company has a market cap of $1.93 billion, a P/E ratio of 190.00 and a beta of 1.73.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MQ shares. Susquehanna cut their price objective on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft lowered shares of Marqeta from a “buy” rating to a “hold” rating and lowered their price objective for the company from $9.00 to $4.00 in a research note on Tuesday. William Blair downgraded shares of Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday. UBS Group decreased their price target on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Monness Crespi & Hardt lowered Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective on the stock. in a research report on Tuesday. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Marqeta has a consensus rating of “Hold” and a consensus target price 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.