Marqeta stock plunges 30% on weak guidance, slowing growth
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Marqeta Inc. (MQ) PT Lowered to $7 at Citi
November 5, 2024 7:38 AM ESTCiti analyst Ashwin Shirvaikar lowered the price target on Marqeta Inc. (NASDAQ: MQ) to $7.00 (from $8.00) while maintaining a Buy rating.
The analyst comments "Marqetas disappointing outlook primarily reflected (1) implementation delays related to continuation of elevated regulatory scrutiny regarding bank partnerships (~80% of 4Q impact); (2) select... More
Deutsche Bank Downgrades Marqeta Inc. (MQ) to Hold
November 5, 2024 5:25 AM ESTDeutsche Bank analyst Bryan Keane downgraded Marqeta Inc. (NASDAQ: MQ) from Buy to Hold with a price target of $4.00 (from $9.00).
The analyst comments "MQ slightly missed on 3Q24 gross profit growth (~24% Y/Y), but beat on adj. EBITDA of ~9m (~7% margins) on the back of operational discipline. However, the company materially cut its outlook due to heightened scrutiny from the banking... More
