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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why Barclays, Credit Suisse Analysts Were Positive On Marqeta

  • While neither Block, Inc (NYSE:SQ) nor Afterpay Ltd (OTC:AFTPY) was new to Marqeta, Inc's (NASDAQ:MQ) platform, the synergies of the combined company were incremental to Marqeta, Barclays analyst Ramsey El-Assal acknowledged. 
  • El-Assal projected a ~$41 million midpoint of annual revenue upside for Marqeta from SQ/APT synergies and a ~600+ bps lift for FY23 revenue growth. 
  • Credit Suisse analyst Timothy Chiodo considered Marqeta as an attractive way to gain exposure to one of the most critical themes within his coverage - platforms embedding additional ecosystem- and monetization-enhancing financial services.
  • Chiodo also thinks Marqeta has potential upside via international expansion, new products, and other call options offerings, moving Marqeta further into Galileo's territory as additional support. 
  • Marqeta's modern card issuing platform empowered its customers to create customized and innovative payment cards.
  • Analysts hailed the stock post Q1 beat.
  • Price Action: MQ shares traded higher by 5.14% at $11.54 on the last check Monday.
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