Marqeta (MQ) Set to Announce Earnings on Tuesday

Posted by Defense World Staff on Aug 1st, 2023

Marqeta (NASDAQ:MQ – Get Free Report) is set to release its earnings data after the market closes on Tuesday, August 8th. Analysts expect Marqeta to post earnings of ($0.09) per share for the quarter. Marqeta has set its Q2 2023 guidance at EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Marqeta (NASDAQ:MQ – Get Free Report) last released its quarterly earnings data on Tuesday, May 9th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The company had revenue of $217.40 million during the quarter, compared to analysts’ expectations of $211.79 million. Marqeta had a negative return on equity of 12.97% and a negative net margin of 24.14%. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.11) EPS. On average, analysts expect Marqeta to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Marqeta Price Performance

Shares of MQ stock opened at $5.58 on Tuesday. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -15.50 and a beta of 1.77. The stock has a 50 day simple moving average of $4.98 and a 200-day simple moving average of $5.01. Marqeta has a 1-year low of $3.46 and a 1-year high of $11.28.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Berenberg Bank started coverage on Marqeta in a research report on Monday, June 12th. They set a “hold” rating and a $5.00 target price on the stock. KeyCorp cut their price target on Marqeta from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 5th. BTIG Research initiated coverage on Marqeta in a research note on Tuesday, June 13th. They issued a “neutral” rating on the stock. Morgan Stanley downgraded Marqeta from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $8.00 to $4.50 in a research note on Monday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $7.00 target price on shares of Marqeta in a research note on Friday, July 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.53.

Insider Activity

In other news, Director Judson C. Linville purchased 44,650 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average cost of $4.46 per share, for a total transaction of $199,139.00. Following the completion of the purchase, the director now directly owns 44,650 shares of the company’s stock, valued at approximately $199,139. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Martha Cummings sold 21,371 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $5.16, for a total value of $110,274.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Judson C. Linville acquired 44,650 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average price of $4.46 per share, with a total value of $199,139.00. Following the transaction, the director now owns 44,650 shares in the company, valued at $199,139. The disclosure for this purchase can be found here. 10.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marqeta

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Marqeta by 5.8% during the third quarter. Vanguard Group Inc. now owns 42,892,435 shares of the company’s stock worth $305,393,000 after buying an additional 2,361,729 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Marqeta by 349.7% during the first quarter. Capital Research Global Investors now owns 37,142,171 shares of the company’s stock worth $410,050,000 after buying an additional 28,882,196 shares during the last quarter. BlackRock Inc. grew its stake in shares of Marqeta by 2.4% during the third quarter. BlackRock Inc. now owns 30,903,031 shares of the company’s stock worth $220,029,000 after buying an additional 735,035 shares during the last quarter. Visa Inc. bought a new stake in shares of Marqeta during the first quarter worth $137,389,000. Finally, Renaissance Technologies LLC grew its stake in shares of Marqeta by 59.9% during the first quarter. Renaissance Technologies LLC now owns 9,822,700 shares of the company’s stock worth $44,890,000 after buying an additional 3,679,400 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

About Marqeta

(Get Free Report)

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, financial technology, embedded finance solutions, and large financial institution.