Marqeta (NASDAQ:MQ - Get Free Report) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $6.00 to $8.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 25.39% from the stock's current price.
Other equities research analysts have also recently issued research reports about the company. Barclays increased their price objective on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Keefe, Bruyette & Woods lifted their price objective on Marqeta from $4.50 to $6.50 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft started coverage on Marqeta in a report on Thursday, July 17th. They issued a "hold" rating and a $6.00 target price for the company. UBS Group lifted their target price on Marqeta from $5.00 to $5.75 and gave the stock a "neutral" rating in a report on Thursday. Finally, The Goldman Sachs Group boosted their price target on Marqeta from $5.50 to $7.50 and gave the company a "neutral" rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $6.11.
Read Our Latest Research Report on MQ
Marqeta Stock Down 2.1%
MQ traded down $0.14 during trading on Thursday, reaching $6.38. 5,474,045 shares of the company were exchanged, compared to its average volume of 5,291,775. The company's 50-day moving average is $5.76 and its two-hundred day moving average is $4.73. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -49.08 and a beta of 1.54. Marqeta has a 12-month low of $3.37 and a 12-month high of $7.04.
Insider Activity at Marqeta
In related news, Director Jason M. Gardner sold 2,250,000 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $6.63, for a total value of $14,917,500.00. Following the transaction, the director directly owned 15,399,000 shares of the company's stock, valued at $102,095,370. This represents a 12.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.61% of the company's stock.
Institutional Investors Weigh In On Marqeta
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in Marqeta in the 4th quarter worth about $288,000. Allspring Global Investments Holdings LLC boosted its holdings in Marqeta by 44.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 67,579 shares of the company's stock worth $287,000 after buying an additional 20,909 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Marqeta in the 4th quarter worth about $1,520,000. Northern Trust Corp boosted its holdings in Marqeta by 3.9% in the 4th quarter. Northern Trust Corp now owns 4,301,993 shares of the company's stock worth $16,305,000 after buying an additional 161,968 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. purchased a new position in Marqeta in the 4th quarter worth approximately $778,000. 78.64% of the stock is owned by institutional investors and hedge funds.
About Marqeta
(
Get Free Report)
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.
See Also
Before you consider Marqeta, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Marqeta wasn't on the list.
While Marqeta currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the 10 Best High-Yield Dividend Stocks for 2025 and secure reliable income in uncertain markets. Download the report now to identify top dividend payers and avoid common yield traps.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access