Marqeta, Inc MQ clocked a 53% income development within the second quarter of FY22 to $187 million, beating the consensus of $179.8 million. EPS lack of $(0.08) beat the consensus lack of $(0.10).
Barclays analyst Ramsey El-Assal reiterated an Obese and worth goal of $19. Whereas the 2H22 information exhibits warning concerning a probably softer Fintech Business backdrop, MQ’s vertical variety ought to assist guarantee ~40%+ income development in F22, Ramsey expects.
Individually, an sudden (and sluggish) CEO transition could have an effect on the share costs, however his thesis stays intact.
KeyBanc analyst Josh Beck reiterated an Obese and raised the value goal from $11 to $12. He acknowledged the Q2 beat, CEO change, and cautious steerage.
Beck lifted the ’22 income estimate whereas sustaining his below-Avenue 2023E reflecting potential take charge contract renegotiation compression. The worth goal displays elevated visibility into ’22 top-line prospects and margin progress.
Mizuho analyst Dan Dolev reiterated a Purchase and worth goal of $12. Following a turbulent week, which included a knee-jerk 30% down transfer resulting from worry of dropping Block, Inc SQ volumes following complicated commentary by Constancy Nationwide Info Companies, Inc FIS, he famous that 2Q outcomes ought to supply a sigh of reduction.
Whereas outcomes have been robust, particularly on income, take charges and adj. EBITDA, a considerably softer than hoped 3Q information is unlikely to be met with a cheer, Dolev added. He continues to await the much-anticipated SQ renegotiation, which stays the inventory’s #1, #2, and #3 overhangs.
Citi analyst Ashwin Shirvaikar reiterated a Purchase. He acknowledged that few elements might weigh on MQ inventory near-term regardless of strong fundamentals. He remained centered on the long-term alternative.
Worth Motion: MQ shares traded decrease by 26.20% at $8.16 on the final verify Thursday.