JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Marqeta (NASDAQ:MQ) Stock

Key Points

• JPMorgan Chase & Co. has increased its target price for Marqeta (NASDAQ:MQ) from $6.00 to $8.00, indicating a potential upside of 17.22%.
• Marqeta's stock has experienced a 20.2% increase recently, reaching a price of $6.83 during trading on Thursday.
• Ten investment analysts currently indicate a hold rating for Marqeta, while three analysts have assigned a buy rating.

Marqeta (NASDAQ:MQ - Get Free Report) had its target price boosted by analysts at JPMorgan Chase & Co. from $6.00 to $8.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 17.22% from the stock's current price.

MQ has been the topic of several other reports. The Goldman Sachs Group increased their target price on Marqeta from $5.50 to $7.50 and gave the stock a "neutral" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Marqeta in a research note on Thursday, July 17th. They issued a "hold" rating and a $6.00 price target for the company. Barclays boosted their price target on Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Keefe, Bruyette & Woods upped their target price on Marqeta from $4.50 to $6.50 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Finally, UBS Group boosted their target price on shares of Marqeta from $5.00 to $5.75 and gave the company a "neutral" rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Marqeta presently has a consensus rating of "Hold" and a consensus target price of $6.11.

Marqeta Stock Up 20.2%

MQ stock traded up $1.15 during trading on Thursday, hitting $6.83. The company had a trading volume of 15,600,239 shares, compared to its average volume of 6,697,230. The firm has a 50-day moving average price of $5.68 and a 200-day moving average price of $4.66. Marqeta has a 1-year low of $3.37 and a 1-year high of $6.84. The firm has a market cap of $3.20 billion, a PE ratio of 68.25 and a beta of 1.54.

Marqeta (NASDAQ:MQ - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. The firm had revenue of $139.07 million for the quarter, compared to the consensus estimate of $135.66 million. Marqeta had a net margin of 10.43% and a return on equity of 5.11%. The firm's revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. Sell-side analysts anticipate that Marqeta will post 0.06 earnings per share for the current year.

Institutional Trading of Marqeta

Several hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Marqeta by 126.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,097,173 shares of the company's stock worth $169,322,000 after buying an additional 22,928,070 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Marqeta in the 4th quarter worth approximately $72,879,000. RPD Fund Management LLC purchased a new position in shares of Marqeta during the fourth quarter valued at approximately $37,289,000. Wellington Management Group LLP purchased a new position in Marqeta during the fourth quarter valued at $19,717,000. Finally, North Reef Capital Management LP grew its position in shares of Marqeta by 99.7% during the fourth quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company's stock worth $29,513,000 after purchasing an additional 3,886,999 shares in the last quarter. Institutional investors own 78.64% of the company's stock.

About Marqeta

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.