Marqeta Inc reports results for the quarter ended in January - Earnings Summary

Marqeta

07/08/2024 22:38

* Marqeta Inc  MQ.OQ  reported quarterly adjusted earnings
of 23
cents​​ per share for the quarter ended in January, higher than
the same quarter last year, when the company reported EPS of -11
cents.  The mean expectation of fifteen analysts for the quarter
was for earnings of 17 cents per share. Wall Street expected
results to range from -9 cents to 23 cents per share.
    * Revenue fell 45.8% to $125.27 million from a year ago;
analysts
expected $121.86 million. 
    * Marqeta Inc's reported EPS for the quarter was 23 cents​.
    * The company reported quarterly net income of $119.11
million.
    * Marqeta Inc shares had fallen by 10.8% this quarter and
lost 29.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 60.5%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 12 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the financial
technology (fintech) peer group is also "buy"

Wall Street's median 12-month price target for Marqeta Inc is
$7.00 
This summary was machine generated from LSEG data August 7 at
09:38 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.17           0.23           Beat
 Mar. 31 2024      -0.07          -0.07          Met
 Dec. 31 2023      -0.09          -0.08          Beat
 Sep. 30 2023      -0.09          -0.10          Missed