廣告
香港股市 已收市
  • 恒指

    16,541.42
    +148.58 (+0.91%)
     
  • 國指

    5,810.79
    +82.66 (+1.44%)
     
  • 上證綜指

    3,041.17
    +30.50 (+1.01%)
     
  • 滬深300

    3,537.48
    +16.52 (+0.47%)
     
  • 美元

    7.8256
    0.0000 (0.00%)
     
  • 人民幣

    0.9225
    -0.0003 (-0.03%)
     
  • 道指

    39,807.37
    +47.29 (+0.12%)
     
  • 標普 500

    5,254.35
    +5.86 (+0.11%)
     
  • 納指

    16,379.46
    -20.06 (-0.12%)
     
  • 日圓

    0.0514
    0.0000 (0.00%)
     
  • 歐元

    8.4309
    -0.0097 (-0.11%)
     
  • 英鎊

    9.8760
    0.0000 (0.00%)
     
  • 紐約期油

    83.11
    -0.06 (-0.07%)
     
  • 金價

    2,254.80
    +16.40 (+0.73%)
     
  • Bitcoin

    69,865.35
    -625.44 (-0.89%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

Marqeta Gets 20% Price Target Cut, Toast Gets 20% Price Target Bump By This Analyst After Q2 Performance

  • Results were solid amid a mix of macro challenges, with management from Marqeta, Inc (NASDAQ: MQ) and Toast, Inc (NYSE: TOST) having contrasting views for the remainder of the year, Mizuho analyst Dan Dolev noted.

  • He updated estimates & price targets post week 3 of 2Q earnings.

  • Dolev maintained Marqeta with a Buy and cut the price target from $12 to $10. He hailed MQ's better than anticipated earnings, albeit the forward guidance and departure of the CEO/Founder and the COO put a slight damper on results.

  • A key drag on the stock was the anticipated slowdown in growth from BNPL & crypto clients and more hesitation on behalf of fintech, he said.

  • TPV for the top five customers accelerated to +48% Y/Y (vs. +39%), whereas other customers slowed from +168% to +81% Y/Y.

  • The price target reflected his downward revision to the 2024 gross profit multiple amid management caution, he added.

  • On the other hand, Dolev maintained Toast with a Neutral and raised the price target from $18 to $22.

  • TOST printed a solid quarter for 2Q, reporting an improvement in most primary KPIs paired with an increase to the FY guide greater than the 'beat' during the quarter, he noted.

  • Record new location adds GPV acceleration and strong acceleration in GPV per location were all notable positives, with some moderation to the gross and net take rates sequentially, he said.

  • Dolev views the increase in GPV / location to nearly $1.4 million as the most significant positive. The price target reflected the FY24 GP multiple boost, given management's forward optimism, he added.

  • Price Action: MQ shares traded higher by 1.18% at $8.61 on the last check Monday.

Latest Ratings for MQ

Date

Firm

Action

From

To

Mar 2022

JP Morgan

Maintains

Overweight

Mar 2022

Truist Securities

Maintains

Buy

Mar 2022

Keefe, Bruyette & Woods

Maintains

Market Perform

View More Analyst Ratings for MQ

廣告

View the Latest Analyst Ratings

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.