Marqeta assumed with a Neutral at Goldman Sachs

Goldman Sachs analyst Will Nance assumed coverage of Marqeta (MQ) with a Neutral rating and $5.50 price target, which offers 8% upside. The firm views Marqeta as a leading scaled provider of embedded finance for card-based programs, with a “significant head start on the competition” in terms of experience in program management for large, complex card programs. However, the company’s outlook is slightly more mixed for consumer fintech, where the U.S. is already highly concentrated with the highest market share held by Marqeta largest partner, Block (SQ), the analyst tells investors in a research note.