Barclays downgrades WEX, Marqeta on growth concerns

Investing.com

2024-12-17

Investing.com -- Barclays downgraded Wex Inc (NYSE:WEX) and Marqeta Inc (NASDAQ:MQ) to equal weight from overweight, citing growth headwinds in both companies.

For WEX, Barclays (LON:BARC) lowered its price target to $200 from $207. Brokerage flagged slowing growth in the U.S. fuel card market and persistent yield pressure in corporate payments.

Barclays sees near-term challenges from volatile fuel prices and weaker client demand, with further clarity needed on normalized growth rates.

For Marqeta, the price target was cut to $4 from $5. Barclays pointed to regulatory delays weighing on revenue growth and moderating tailwinds from high-growth verticals. The brokerage also flagged Marqeta’s slow progress toward profitability and revenue diversification.

Barclays said it would turn more constructive on both stocks once growth stabilizes and key pressures ease.

Though it was bullish on the fintech sector as analyst said “Sector sentiment is finally improving, as valuations appear to be trending back toward average historical levels.”

Barclays named Block Inc, PayPal (NASDAQ:PYPL), Corpay Inc, Global Payments (NYSE:GPN) Inc its top pick in the sector.

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The brokerage also flagged Marqeta’s slow progress toward profitability and revenue diversification.Barclays said it would turn more constructive on both stocks once growth stabilizes and key pressures ease.Though it was bullish on the fintech sector as analyst said “Sector sentiment is finally improving, as valuations appear to be trending back toward average historical ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"WEX":"Wex Inc","MQ":"Marqeta, Inc."},"translate_title":"巴克莱因增长担忧下调WEX和Marqeta评级","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MQ":1,"WEX":1},"content_text":"Investing.com -- Barclays downgraded Wex Inc (NYSE:WEX) and Marqeta Inc (NASDAQ:MQ) to equal weight from overweight, citing growth headwinds in both companies.\nFor WEX, Barclays (LON:BARC) lowered its price target to $200 from $207. Brokerage flagged slowing growth in the U.S. fuel card market and persistent yield pressure in corporate payments.\nBarclays sees near-term challenges from volatile fuel prices and weaker client demand, with further clarity needed on normalized growth rates.\nFor Marqeta, the price target was cut to $4 from $5. Barclays pointed to regulatory delays weighing on revenue growth and moderating tailwinds from high-growth verticals. The brokerage also flagged Marqeta’s slow progress toward profitability and revenue diversification.\nBarclays said it would turn more constructive on both stocks once growth stabilizes and key pressures ease. \nThough it was bullish on the fintech sector as analyst said “Sector sentiment is finally improving, as valuations appear to be trending back toward average historical levels.”  \nBarclays named Block Inc, PayPal (NASDAQ:PYPL), Corpay Inc, Global Payments (NYSE:GPN) Inc its top pick in the sector.\nRelated Articles\nBarclays downgrades WEX, Marqeta on growth concerns\nUS offers PG&E up to $15 billion conditional loan for climate resilience\nDisney announces Bluey movie set for 2027","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}