Marqeta, Inc. (NASDAQ:MQ) Receives Average Recommendation of "Hold" from Analysts

Marqeta, Inc. (NASDAQ:MQ - Get Free Report) has earned an average recommendation of "Hold" from the thirteen brokerages that are covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $5.55.

Several research analysts have recently issued reports on MQ shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Marqeta in a report on Thursday. They issued a "hold" rating and a $6.00 target price for the company. Keefe, Bruyette & Woods raised their target price on shares of Marqeta from $4.50 to $6.50 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. The Goldman Sachs Group reduced their target price on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. UBS Group raised their target price on shares of Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. upgraded shares of Marqeta from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $5.00 to $6.00 in a research note on Monday, May 19th.

Institutional Trading of Marqeta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Marqeta during the 4th quarter valued at about $288,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Marqeta by 44.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 67,579 shares of the company's stock worth $287,000 after acquiring an additional 20,909 shares during the last quarter. Xponance Inc. increased its holdings in shares of Marqeta by 11.5% during the 4th quarter. Xponance Inc. now owns 34,314 shares of the company's stock worth $130,000 after acquiring an additional 3,546 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Marqeta in the 4th quarter valued at $1,520,000. Finally, Northern Trust Corp grew 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 valued at $16,305,000 after buying an additional 161,968 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Trading Down 2.9%

MQ stock traded down $0.17 during trading on Friday, reaching $5.73. 3,142,854 shares of the stock were exchanged, compared to its average volume of 6,301,193. The business has a 50 day moving average price of $5.51 and a 200-day moving average price of $4.49. Marqeta has a 1 year low of $3.37 and a 1 year high of $6.01. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 57.30 and a beta of 1.54.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. The business had revenue of $139.07 million during the quarter, compared to analysts' expectations of $135.66 million. Marqeta had a net margin of 10.43% and a return on equity of 5.11%. The business's revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the business earned ($0.07) earnings per share. On average, research analysts anticipate that Marqeta will post 0.06 EPS for the current year.

Marqeta Company Profile

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.