Neil's avatar
$27m follower assets
Marqeta x Square
Mizuho analyst Dan Dolev keeps a Buy rating on Marqeta with a $12 price target after hosting investor meetings with management.

It was "encouraging" to hear the company's "relative recession resiliency, progress in disrupting the credit issuer processing market, and awareness that profits matter to investor," Dolev tells investors in a research note.

Square's ($SQ) contract ending in 2024 remains a major overhang on the stock, says the analyst. However, he believes that Square's high switching cost, Marqeta's capabilities, pricing that's not too far off from other consumer programs, and a new CFO with vast negotiating experience "all significantly boost MQ's negotiating leverage." Dolev says squaring away major overhangs could help drive shares of $MQ.
Paul Cerro's avatar
Didn't a hedge fund just dump Marqeta yesterday?
Neil's avatar
@paulcerro One dumps, the other pumps. It's the name of the game :p
Cameron McFarlane's avatar
I doubt $SQ will end the contract in 2024. Do you know how much % of revenue is $SQ? I know it’s been decreasing but can’t recall them highlighting the amount anymore.

Long both $SQ & $MQ