Susquehanna starts Marqeta with Positive, sees numerous ways to win

Susquehanna initiated coverage of Marqeta with a Positive rating and $9 price target. The analyst thinks there are a number of ways for investors to win with Marqeta “and a clear catalyst path to get there.” The firm’s diligence with current and prospective customers “reveals growing mindshare” for the company’s solutions. Second, the company is “clearly onto something” by reconstituting the “issuing” process and sharing those benefits with merchants and intermediaries, the analyst tells investors in a research note. The firm believes expanded use cases for Marqeta’s solutions in areas such as accelerated wage access and expense management point to sustainable accelerated growth.