Wells Fargo Upgrades Marqeta Inc. (MQ) to Overweight

Wells Fargo analyst Andrew Bauch upgraded Marqeta Inc. (NASDAQ: MQ) from Equal Weight to Overweight with a price target of $7.00.

The analyst comments "Overall, we believe MQ is overdue for a re-rating, given emerging opportunities, further innovation within SQ/Cash App, and the optical clean up of the financials. Layer in ~$1B of B/S cash and a sound leadership position in modern card issuing, and we see a compelling story to the upside. While our PT ($7) is unchanged we see the recent share weakness as a compelling buying opportunity and upgrade to OW. Our $7 PT is based on 6x our '25 GP of $443mm (49x our '25 EBITDA, 26x our '26 EBITDA)."

For an analyst ratings summary and ratings history on Marqeta Inc. click here. For more ratings news on Marqeta Inc. click here.

Shares of Marqeta Inc. closed at $5.30 yesterday.

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