Marqeta Has Opportunity To Add More Digital Banking Product & Services, This Analyst Says

Credit Suisse analyst Timothy Chiodo reiterated Outperform on Marqeta, Inc MQ with a price target of $13.50.
He hosted Marqeta's Founder & CEO, CFO, and Head of Investor Relations for a day of meetings with investors in New York.
The discussions covered a range of topics, including CEO succession, Jason Gardner's ongoing active role at the company, the relationship with Block, Inc. SQ, additional product and service offerings, capital allocation, competition, credit issuing, allocation of resources & hiring, and more.
Also Read: Marqeta's Q2 Beat Earns It Price Target Bump By Analysts Who See Long Term Opportunity
He continues to believe that Marqeta is an attractive way to gain exposure to one of the most critical themes within his coverage, software platforms embedding additional ecosystem - and monetization - enhancing financial services. It also helps to gain exposure to upside via international expansion, new products like credit and broader BaaS offerings, penetration of large FIs, and M&A are further supportive of growth ahead.
In addition to the core issuer processing and program management businesses, he expects Marqeta to increasingly offer and monetize offerings that are not tied to interchange, come with higher gross margins, and broaden customer relationships.
Price Action: MQ shares traded higher by 2.88% at $7.85 on the last check Wednesday.

Analyst Calendar