On Nov 05, major Wall Street analysts update their ratings for $Marqeta (MQ.US)$, with price targets ranging from $7 to $7.
Barclays analyst Ramsey El Assal maintains with a buy rating, and maintains the target price at $7.
Wells Fargo analyst Andrew Bauch maintains with a buy rating, and maintains the target price at $7.
Mizuho Securities analyst Dan Dolev maintains with a buy rating.
KeyBanc analyst Alex Markgraff maintains with a hold rating.
William Blair analyst Robert Napoli downgrades to a hold rating.
Furthermore, according to the comprehensive report, the opinions of $Marqeta (MQ.US)$'s main analysts recently are as follows:
The outlook for Marqeta was anticipated to become clearer post the lapping of the Block renewal, and it was expected that the shares would rebound from trading at cash value in after-hours trading. Yet, it's believed that Marqeta will continue to be a 'show-me' story into 2025 due to recent execution issues.
Marqeta's third-quarter performance showed a slight shortfall in gross profit growth, yet exceeded expectations in adjusted EBITDA, driven by operational discipline. Nonetheless, the company significantly reduced its forecast, attributing this to increased examination within the banking sector that has postponed new client integrations and diminished value-added services from current clients. Additionally, some of Marqeta's advanced fintech clients have chosen to internalize parts of their program management and banking relations.
The third-quarter financial results were notably impacted by significant adjustments to the fiscal 2024 revenue and gross profit forecasts, as well as a preliminary perspective on fiscal 2025 growth projections, which are now anticipated to be substantially below previous company and market expectations. The slower projected growth rate for fiscal 2025 is largely attributed to external influences and additional challenges stemming from customer in-sourcing activities. Given the current regulatory and implementation challenges, as well as the need for model resolutions, there appears to be limited justification for a more optimistic stance on the stock at this time.
Here are the latest investment ratings and price targets for $Marqeta (MQ.US)$ from 5 analysts:
Note:
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