Marqeta, Inc. (NASDAQ:MQ) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts have given Marqeta, Inc. (NASDAQ:MQ) an average rating of "Hold", with ten ratings for hold and three for buy, leading to an average target price of $6.11.
• Recent trading activity shows significant insider sales, including 2,250,000 shares sold by Director Jason M. Gardner, reflecting a 12.75% decrease in his holdings.
• Institutional investors own 78.64% of Marqeta's stock, with several modifying their holdings, including State of Wyoming acquiring a new position worth about $442,000.

Shares of Marqeta, Inc. (NASDAQ:MQ - Get Free Report) have received an average rating of "Hold" from the thirteen brokerages that are covering the firm, Marketbeat reports. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.1136.

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Barclays upped their target price on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. UBS Group upped their target price on Marqeta from $5.00 to $5.75 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. The Goldman Sachs Group upped their target price on Marqeta from $5.50 to $7.50 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Marqeta in a research note on Thursday, July 17th. They issued a "hold" rating and a $6.00 price target on the stock.

Insider Activity

In related news, CRO Todd Pollak sold 116,493 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $6.19, for a total value of $721,091.67. Following the transaction, the executive owned 364,525 shares in the company, valued at approximately $2,256,409.75. The trade was a 24.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jason M. Gardner sold 2,250,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the director owned 15,399,000 shares in the company, valued at approximately $102,095,370. This trade represents a 12.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,398,120 shares of company stock worth $15,836,577. Insiders own 12.61% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. State of Wyoming acquired a new position in shares of Marqeta in the second quarter worth about $442,000. Hudson Bay Capital Management LP acquired a new position in shares of Marqeta in the second quarter worth about $122,000. Tower Research Capital LLC TRC lifted its stake in shares of Marqeta by 412.6% in the second quarter. Tower Research Capital LLC TRC now owns 65,481 shares of the company's stock worth $382,000 after acquiring an additional 52,706 shares in the last quarter. Vident Advisory LLC acquired a new position in shares of Marqeta in the second quarter worth about $341,000. Finally, Tidal Investments LLC acquired a new stake in Marqeta during the second quarter valued at approximately $174,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Marqeta Price Performance

Shares of NASDAQ MQ opened at $6.15 on Monday. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.04. The business has a 50-day moving average of $6.01 and a 200-day moving average of $5.05. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -47.31 and a beta of 1.55.

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.

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