Marqeta, Inc. (NASDAQ:MQ) Stock Has Consensus Target Price of $19.71

Key Points

• Analysts maintain a “Hold” consensus on Marqeta, with seven hold ratings, one sell, one buy and one strong buy. The average 12-month price target is $19.71, compared with the stock’s reported price of $18.29.
• Marqeta’s latest quarterly results exceeded expectations, with earnings per share of $0.07 versus the $0.01 consensus estimate and revenue of $176 million, up 17% year over year.
• Institutional investors own 78.64% of Marqeta’s shares. The stock has traded between $14.80 and $22.28 over the past year and has a market capitalization of approximately $1.90 billion.

Shares of Marqeta, Inc. (NASDAQ:MQ - Get Free Report) have been assigned an average recommendation of "Hold" from the ten analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $19.71.

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

Hedge Funds Weigh In On Marqeta

A number of institutional investors and hedge funds have recently bought and sold shares of MQ. Western Wealth Management LLC acquired a new position in shares of Marqeta during the first quarter worth $27,000. Financial Solutions Advisory Group Inc. purchased a new position in shares of Marqeta in the first quarter valued at $41,000. Parallel Advisors LLC boosted its stake in shares of Marqeta by 187.2% in the first quarter. Parallel Advisors LLC now owns 19,515 shares of the company's stock valued at $80,000 after purchasing an additional 12,721 shares during the period. Amundi grew its holdings in Marqeta by 99.6% during the 1st quarter. Amundi now owns 20,301 shares of the company's stock valued at $83,000 after purchasing an additional 10,129 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in Marqeta during the 2nd quarter valued at $95,000. Hedge funds and other institutional investors own 78.64% of the company's stock.

Marqeta Trading Up 1.0%

NASDAQ:MQ opened at $18.29 on Tuesday. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 166.27 and a beta of 1.21. The firm's fifty day simple moving average is $16.42 and its 200 day simple moving average is $16.42. Marqeta has a twelve month low of $14.80 and a twelve month high of $22.28.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.06. Marqeta had a net margin of 1.53% and a return on equity of 1.36%. The firm had revenue of $176.00 million during the quarter, compared to analysts' expectations of $172.96 million. Marqeta's revenue for the quarter was up 17.0% on a year-over-year basis. On average, analysts predict that Marqeta will post 0.28 earnings per share for the current year.

About Marqeta

Marqeta, Inc is a financial technology company that provides a modern card-issuing and payment-processing platform. Its cloud-based infrastructure enables businesses to create, launch and manage physical, virtual and tokenized payment cards through application programming interfaces (APIs), without building a card program and processing network entirely in-house.

The Marqeta platform supports transaction processing, authorization, funding, digital wallet integration, card controls and fraud prevention.

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