Marqeta, Inc. (NASDAQ:MQ) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Marqeta has a consensus “Hold” rating from 11 analysts, with an average 12-month price target of $19.75 versus the stock’s recent price of $15.83.
• The company exceeded quarterly expectations, reporting $0.07 in EPS versus a $0.01 estimate and revenue of $176 million, up 17% year over year.
• Institutional investors own 78.64% of Marqeta’s shares, while insider ownership stands at 13.71%; CRO Todd Pollak recently sold 18,750 shares under a pre-arranged trading plan.

Shares of Marqeta, Inc. (NASDAQ:MQ - Get Free Report) have received a consensus rating of "Hold" from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $19.75.

Several research firms have recently weighed in on MQ. Weiss Ratings raised Marqeta from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods raised their target price on Marqeta from $18.00 to $19.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 5th. Zacks Research upgraded Marqeta from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Marqeta from $4.50 to $18.00 and gave the company a "hold" rating in a research note on Thursday, July 2nd.

Insider Buying and Selling at Marqeta

In related news, CRO Todd Pollak sold 18,750 shares of the business's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $16.88, for a total transaction of $316,500.00. Following the transaction, the executive owned 185,008 shares in the company, valued at $3,122,935.04. The trade was a 9.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marqeta

A number of large investors have recently bought and sold shares of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Marqeta in the second quarter valued at $98,000. AXQ Capital LP bought a new position in shares of Marqeta during the 2nd quarter worth about $95,000. Wellington Management Group LLP boosted its position in shares of Marqeta by 36.7% during the 2nd quarter. Wellington Management Group LLP now owns 13,887,312 shares of the company's stock worth $56,382,000 after purchasing an additional 3,727,289 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Marqeta in the 2nd quarter valued at about $525,000. Finally, Uber Technologies Inc acquired a new stake in shares of Marqeta in the 2nd quarter valued at about $2,193,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Stock Down 0.4%

MQ opened at $15.83 on Friday. Marqeta has a twelve month low of $14.80 and a twelve month high of $23.72. The company has a fifty day moving average of $16.59 and a 200-day moving average of $16.34. The stock has a market cap of $1.65 billion, a PE ratio of 143.91 and a beta of 1.29.

Marqeta (NASDAQ:MQ - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. Marqeta had a net margin of 1.53% and a return on equity of 1.36%. The business had revenue of $176.00 million for the quarter, compared to analyst estimates of $172.96 million. The company's revenue was up 17.0% on a year-over-year basis. Sell-side analysts anticipate that Marqeta will post 0.28 EPS for the current fiscal year.

Marqeta Company Profile

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

The company's services include card issuance, transaction processing, payment authorization, fraud and risk management, digital wallet tokenization, real-time transaction controls and just-in-time funding.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.