Marqeta, Inc. (NASDAQ:MQ) Stock Has Consensus Target Price of $20.71 According to Brokerages

Key Points

• Analyst sentiment is mostly neutral: Marqeta has a consensus “Hold” rating from 10 analysts, with a $20.71 average 12-month price target. Ratings include seven holds, two buys, and one sell.
• Quarterly results topped estimates: Marqeta reported EPS of $1.09 versus the $0.06 consensus and revenue of $176.18 million versus expectations of $175.40 million; revenue increased 7.9% year over year.
• Shares opened at $18.59, within a 52-week range of $14.80 to $20.56. Institutional investors own 78.64% of the stock.

Marqeta, Inc. (NASDAQ:MQ - Get Free Report) has been assigned an average rating of "Hold" from the ten research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $20.71.

MQ has been the subject of several analyst reports. Weiss Ratings reissued a "sell (d+)" rating on shares of Marqeta in a research note on Tuesday. UBS Group lifted their target price on shares of Marqeta from $19.00 to $21.00 and gave the stock a "neutral" rating in a research note on Thursday. Susquehanna reissued a "positive" rating and issued a $25.00 price objective on shares of Marqeta in a research report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on shares of Marqeta from $18.00 to $19.00 and gave the company a "market perform" rating in a research note on Wednesday, August 5th. Finally, Zacks Research cut Marqeta from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC acquired a new stake in shares of Marqeta during the 3rd quarter worth approximately $67,000. Allworth Financial LP increased its holdings in Marqeta by 118.6% during the 3rd quarter. Allworth Financial LP now owns 5,882 shares of the company's stock valued at $100,000 after purchasing an additional 3,191 shares during the period. Western Wealth Management LLC purchased a new stake in shares of Marqeta in the first quarter worth $27,000. Financial Solutions Advisory Group Inc. bought a new position in Marqeta in the 1st quarter worth $41,000. Finally, Amundi grew its holdings in shares of Marqeta by 99.6% in the first 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. 78.64% of the stock is currently owned by institutional investors.

Marqeta Trading Up 0.8%

NASDAQ:MQ opened at $18.59 on Friday. The firm has a fifty day simple moving average of $17.31 and a 200 day simple moving average of $16.63. The stock has a market capitalization of $1.94 billion, a PE ratio of 14.99 and a beta of 1.02. Marqeta has a 1-year low of $14.80 and a 1-year high of $20.56.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $1.03. Marqeta had a return on equity of 1.36% and a net margin of 1.53%. The firm had revenue of $176.18 million during the quarter, compared to analysts' expectations of $175.40 million. During the same quarter last year, the firm posted ($0.01) earnings per share. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities analysts predict that Marqeta will post 0.53 earnings per share for the current fiscal year.

About Marqeta

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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