Payment technology company Marqeta (NASDAQ: MQ) will be announcing earnings results this Tuesday after the bell. Here’s what you need to know.
Marqeta beat analysts’ revenue expectations last quarter, reporting revenues of $172.1 million, up 26.7% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a decent beat of analysts’ revenue estimates.
Is Marqeta a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Marqeta’s revenue to grow 18.2% year on year, in line with the 17.9% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Marqeta has a history of exceeding Wall Street’s expectations.
Looking at Marqeta’s peers in the finance and hr software segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Paychex delivered year-on-year revenue growth of 19.9%, beating analysts’ expectations by 1.5%, and Asure Software reported revenues up 22.7%, topping estimates by 2.1%. Paychex traded up 3.3% following the results while Asure Software was also up 1.1%.
Read our full analysis of Paychex’s results here and Asure Software’s results here.
There has been positive sentiment among investors in the finance and hr software segment, with share prices up 8.7% on average over the last month. Marqeta is up 8.7% during the same time and is heading into earnings with an average analyst price target of $5.14 (compared to the current share price of $4.35).
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