EARN25

Marqeta Stock Drops on Analyst Downgrade

The stock staged a much-needed bounce last week

Deputy Editor
Apr 3, 2023 at 11:11 AM
facebook X logo linkedin


Marqeta Inc (NASDAQ:MQ) is down 3.7% at $4.40 at last glance, after a downgrade from Morgan Stanley to "equal weight" from "overweight," with a price-target cut to $4.50 from $8.00.

The stock has been climbing since its Mar. 23 record low of $3.46, and is today on track to snap a five-day win streak. Prior to last week's 28% pop, MQ posted eight straight weekly losses. Despite today's pulback, MQ is still above its 20-day moving average after breaking above it last session. 

Options traders have been more bearish than usual. This is per Marqeta stock's 50-day put/call volume ratio of 1.19 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 94% of readings from the past year. 

Of the 17 analysts in coverage, 11 carry a "buy" or better rating, with six a "hold" or worse. The 12-month consensus price target of $7.00 is a 58.4% premium to current levels. 

 

 

 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here