KeyBanc downgraded Marqeta (MQ) to Sector Weight from Overweight without a price target The firm says the Q3 earnings print was dominated by a substantial revision of fiscal 2024 revenue and gross profit guidance and an initial look at fiscal 2025 growth, which is now expected to be materially below the company and Street estimates. The analyst cites Marqeta’s structurally lower growth rate in fiscal 2025, resulting in large part from external factors and incremental pressure from customer in-sourcing, for the downgrade. KeyBanc does not see the need to be Overweight the stock “while the regulatory/implementation headwinds (and the model) are resolved.”
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Read More on MQ:
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- Marqeta reports Q3 EPS (6c), consensus (5c)
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