What Happened?
Shares of payment technology company Marqeta (NASDAQ: MQ) jumped 3.6% in the afternoon session after the company provided an optimistic business outlook at a conference and announced a new $100 million share buyback program.
During a presentation at Citi's FinTech Conference, Marqeta's management shared that the company expected its Adjusted EBITDA to more than triple year-over-year to over $100 million. The company also projected it would achieve GAAP profitability by 2026, noting its growth in Europe remained strong. In a separate announcement, Marqeta's board of directors approved the new share repurchase plan, authorizing the buyback of up to $100 million of its Class A common stock. This program was distinct from a prior share repurchase plan that had been fully completed.
After the initial pop the shares cooled down to $4.88, up 3.7% from previous close.
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What Is The Market Telling Us
Marqeta’s shares are somewhat volatile and have had 13 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 18 days ago when the stock gained 2.7% on the news that comments from a key Federal Reserve official bolstered hopes for an interest rate cut. The positive sentiment followed comments from New York Federal Reserve President John Williams, a voting member of the rate-setting Federal Open Market Committee (FOMC), who indicated he sees room for further policy easing. Following his remarks, the probability of a December rate cut surged from 39% to 71%, according to the CME FedWatch Tool, causing Treasury yields to fall. Lower interest rates can be particularly beneficial for growth-oriented sectors like software, as they increase the present value of future earnings. This renewed hope provided a boost to the sector, which had recently faced pressure from concerns over high valuations in artificial intelligence.
Marqeta is up 30.7% since the beginning of the year, but at $4.88 per share, it is still trading 28.6% below its 52-week high of $6.83 from August 2025. Investors who bought $1,000 worth of Marqeta’s shares at the IPO in June 2021 would now be looking at an investment worth $159.73.
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