Citi analyst Ashwin Shirvaikar maintains $Marqeta (MQ.US)$ with a buy rating, and adjusts the target price from $8 to $7.
According to TipRanks data, the analyst has a success rate of 56.5% and a total average return of 6.4% 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 mixed, and the company reduced its Q4 and fiscal 2025 growth forecasts. These adjustments stem largely from elongated onboarding periods due to increased regulatory oversight and the risk appetites of sponsor banks. Estimates have been revised in light of these developments.
Following 'disappointing results', the narrative around Marqeta was expected to clarify post the milestone of the Block renewal. Analysts anticipate a recovery from the share value reflecting merely the cash value in after-hours trading. However, it is believed that Marqeta will continue to be viewed with a degree of skepticism into 2025 due to recent challenges in execution.
Marqeta's third-quarter results revealed a slight miss in gross profit growth, yet an outperformance in adjusted EBITDA was noted, attributed to strong operational discipline. Nevertheless, the company significantly reduced its forecast, citing increased examination from the banking sector that is postponing the onboarding of new clients, as well as a reduction in value-added services from current customers. Additionally, it was observed that several of Marqeta's advanced fintech clients have chosen to internalize parts of their program management and banking relationships.
Note:
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