UBS Group Issues Positive Forecast for Marqeta (NASDAQ:MQ) Stock Price

Key Points

• UBS raised Marqeta’s price target from $19 to $21 but maintained a neutral rating, implying 13.88% potential upside from the stock’s current price.
• Analyst sentiment is mixed but leans toward Hold: the consensus rating is “Hold,” with an average target price of $20.71.
• Marqeta reported quarterly EPS of $1.09, far above the $0.06 consensus estimate, while revenue of $176.18 million slightly beat expectations and rose 7.9% year over year.

Marqeta (NASDAQ:MQ - Get Free Report) had its price objective increased by equities research analysts at UBS Group from $19.00 to $21.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price objective suggests a potential upside of 13.88% from the company's current price.

Other equities research analysts also recently issued research reports about the company. Susquehanna restated a "positive" rating and issued a $25.00 target price on shares of Marqeta in a research report on Wednesday. Keefe, Bruyette & Woods increased their price target on Marqeta from $18.00 to $19.00 and gave the stock a "market perform" rating in a report on Wednesday, August 5th. Zacks Research downgraded Marqeta from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 13th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Marqeta in a research report on Tuesday. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $20.71.

Marqeta Stock Down 0.9%

NASDAQ:MQ traded down $0.16 on Thursday, hitting $18.44. The stock had a trading volume of 1,000,927 shares, compared to its average volume of 989,905. The company has a fifty day moving average price of $17.22 and a two-hundred day moving average price of $16.62. Marqeta has a 1-year low of $14.80 and a 1-year high of $22.28. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 14.87 and a beta of 1.02.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $1.03. Marqeta had a net margin of 18.76% and a return on equity of 3.39%. The business had revenue of $176.18 million during the quarter, compared to the consensus estimate of $175.40 million. During the same quarter last year, the firm earned ($0.01) EPS. The business's revenue was up 7.9% compared to the same quarter last year. As a group, analysts anticipate that Marqeta will post 0.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC acquired a new stake in shares of Marqeta in the third quarter valued at $67,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Marqeta in the 2nd quarter valued at $98,000. AXQ Capital LP purchased a new stake in shares of Marqeta in the 2nd quarter valued at $95,000. Wellington Management Group LLP raised its holdings in shares of Marqeta by 36.7% in the 2nd quarter. Wellington Management Group LLP now owns 13,887,312 shares of the company's stock valued at $56,382,000 after buying an additional 3,727,289 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Marqeta during the 2nd quarter worth about $525,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Company Profile

Marqeta, Inc is a financial technology company that provides a modern card-issuing and payment-processing platform. Its infrastructure enables businesses to create, launch and manage physical, virtual and tokenized payment cards through application programming interfaces (APIs), without building a complete payments system internally.

The company's platform supports card authorization and transaction processing, digital wallets, payment tokenization, fraud prevention and configurable spending controls.

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