Keybanc has decided to maintain its Overweight rating of Marqeta MQ and lower its price target from $12.00 to $10.00.
Shares of Marqeta are trading up 13.62% over the last 24 hours, at $7.09 per share.
A move to $10.00 would account for a 41.04% increase from the current share price.
Headquartered in Oakland, California, and founded in 2010, Marqeta provides its clients with a card-issuing platform that offers the infrastructure and tools necessary to offer digital, physical, and tokenized payment options without the need for a traditional bank. The company’s open APIs are designed to allow third parties like DoorDash, Klarna, and Block to rapidly develop and deploy innovative card-based products and payment services without the need to develop the underlying technology. The company generates revenue primarily through processing and ATM fees for cards issued on its platform.
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