Goldman Sachs analyst Will Nance maintains $Marqeta (MQ.US)$ with a hold rating, and adjusts the target price from $6 to $4.5.
According to TipRanks data, the analyst has a success rate of 46.6% and a total average return of -9.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Marqeta (MQ.US)$'s main analysts recently are as follows:
Marqeta's Q3 results were a mixture of highs and lows, and there has been a reduction in the growth forecast for Q4 and fiscal year 2025. This is largely due to extended onboarding periods that stem from increased regulatory oversight and the associated risk appetites of sponsor banks. Estimates have been adjusted in line with these developments.
Following 'disappointing results,' the narrative around Marqeta was anticipated to become clearer post the renewal event with a major client. The expectation was for the shares to recover from trading at cash value in after-hours trading. However, due to recent execution issues, it is believed that the company will 'likely remain a show-me story' into the future.
Marqeta experienced a slight underperformance in Q3 gross profit growth, although it surpassed expectations in adjusted EBITDA due to stringent operational discipline. Nonetheless, the company significantly reduced its outlook as a result of increased regulatory attention from the banking sector that postponed the onboarding of new clients and led to a reduction in value-added services from current customers. Additionally, it was observed that several of Marqeta's advanced fintech clients chose to internalize parts of their program management and banking relationships.
Note:
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