Published on 11 Aug 2023 on Simply Wall St. via Yahoo Finance
Time To Worry? Analysts Are Downgrading Their Marqeta, Inc. (NASDAQ:MQ) Outlook
The latest analyst coverage could presage a bad day for Marqeta, Inc. (NASDAQ:MQ), with the analysts making across-the-board cuts to their statutory estimates that might leave shareholders a little shell-shocked. Revenue and earnings per share (EPS) forecasts were both revised downwards, with analysts seeing grey clouds on the horizon.
Following the downgrade, the consensus from 18 analysts covering Marqeta is for revenues of US$685m in 2023, implying a chunky 19% decline in sales compared to the last 12 months. Losses are forecast to hold steady at around US$0.39 per share. Yet prior to the latest estimates, the analysts had been forecasting revenues of US$908m and losses of US$0.32 per share in 2023. Ergo, there's been a clear change in sentiment, with the analysts administering a notable cut to this year's revenue estimates, while at the same time increasing their loss per share forecasts.
See our latest analysis for Marqeta