UPDATE: Goldman Sachs Reinstates Marqeta Inc. (MQ) at Neutral

January 18, 2022 3:37 AM EST
Get Alerts MQ Hot Sheet
Price: $11.04 +11.52%

Rating Summary:
    13 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 24 | New: 13
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(Updated - January 18, 2022 5:00 AM EST)

Goldman Sachs analyst Michael Ng reinstates coverage on Marqeta Inc. (NASDAQ: MQ) with a Neutral rating and a price target of $18.00.

The analyst comments "Marqeta is a modern card issuer processor that allows customers to establish and manage customized card programs of all types (debit, prepaid, or credit) through its cloud-based, open-API platform that increases speed-to-market and enables features such as just-in-time funding and dynamic spend controls, tokenization-as-a-service, and real-time notifications. We believe that Marqeta is well positioned to gain share in the US card issuer processor market and should benefit from its leading role as a modern card issuer processor as well as its track record and exposure to fast-growing technology customers in key verticals including digital banking, buy now pay later, on demand delivery, cryptocurrency, and expense management. That said, with MQ trading at 18X NTM+1Y EV/gross profit, MQ's opportunity is appropriately reflected in its valuation, while mid-to-long term risks include customer concentration, increased competition, and regulatory changes."

For an analyst ratings summary and ratings history on Marqeta Inc. click here. For more ratings news on Marqeta Inc. click here.

Shares of Marqeta Inc. closed at $13.71 yesterday.


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