Marqeta, Inc. (NASDAQ: MQ) shares were trading more than 18% higher after-hours Wednesday following the company’s reported Q4 results, with revenue of $155.41 million (up 76% year-over-year) coming in better than the consensus estimate of $137.78 million. This was mainly driven by higher total processing volume (TPV) from existing large customers and ongoing growth in total processing volume from both Digital Banking and Buy-Now-Pay-Later customers. Total processing volume (TPV) grew 76% year-over-year to $33 billion in Q4. Quarterly EPS was ($0.07), in line with the consensus estimates.

The company provided its Q1/22 outlook, expecting net revenue growth in the range of 48-50%, a gross profit margin in the range of 43-44%, and an adjusted EBITDA Margin of negative 8-9%.

Mizuho analyst Dan Dolev said the results and guidance were "Marqedly" strong and highlighted that the sale growth guidance was about 17% above consensus. The analyst has a Buy rating and a $17 price target on the stock.