Marqeta Inc Cl A Steady Today At $5.35 After Earnings Miss

Wednesday, November 8, 2023 - Marqeta Inc Cl A (MQ) reported downside earnings and upside revenues.

Marqeta Inc Cl A's earnings came in at an EPS loss of $0.1 per share, 11% lower than estimates for an EPS loss of $0.09 per share. The firm maintained its loss per share over the past year.

Revenues were upbeat at $108.9 million. That represents a 43.17% decrease in revenues from the year-ago report and is 14.54% higher than consensus estimates set at $95.1 million.

The stock is steady today at $5.35 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Marqeta Inc Cl A a Bearish Sentiment Rank from InvestorsObserver.

Marqeta Inc Cl A has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 83, putting Marqeta Inc Cl A in the top 25% of stocks. The firm set a 52-week low on March 23, 2023 at $3.46 and set a 52-week high on November 10, 2022 at $8.

Marqeta brings speed and efficiency to card issuing and payment processing with the world's first open API platform. Our platform was built from the ground up to power an innovative payment experience for many of the apps and services you enjoy daily. Today, Marqeta has 800+ employees and operates globally in the US, UK, EU, Canada and the APAC region. We have extensive partnerships with multiple banks and card networks including Visa, Mastercard & Discover and our solutions are used by innovators in digital banking, lending, e-commerce, on-demand services and more. We are proud of our Oakland roots and strive to build a team as diverse as the markets we serve. Join us in reshaping the way payments are made.