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

Key Points

• Marqeta, Inc. has received an average rating of "Hold" from 13 brokerage firms, with 10 analysts recommending a hold and 3 suggesting a buy.
• Analyst price targets for Marqeta’s stock have increased, with JPMorgan Chase raising their target from $6.00 to $8.00 and Goldman Sachs increasing theirs from $5.50 to $7.50.
• Insider activity has seen significant sales, with Director Jason M. Gardner selling 2.25 million shares, indicating a 12.75% decrease in his holdings.

Shares of Marqeta, Inc. (NASDAQ:MQ - Get Free Report) have received an average rating of "Hold" from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. Ten research 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 $6.0682.

A number of equities analysts recently commented on MQ shares. JPMorgan Chase & Co. lifted their price objective on Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. The Goldman Sachs Group lifted their price objective on Marqeta from $5.50 to $7.50 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. UBS Group lifted their price objective on Marqeta from $5.00 to $5.75 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. 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. Finally, Keefe, Bruyette & Woods dropped their price target on Marqeta from $6.50 to $6.00 and set a "market perform" rating on the stock in a research note on Wednesday.

Insider Activity at Marqeta

In other news, CRO Todd Pollak sold 116,493 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $6.19, for a total transaction of $721,091.67. Following the completion of the sale, the executive owned 364,525 shares in the company, valued at $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 is available through this hyperlink. Also, Director Jason M. Gardner sold 2,250,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $6.63, for a total value of $14,917,500.00. Following the sale, the director owned 15,399,000 shares of the company's stock, valued at approximately $102,095,370. This represents a 12.75% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,398,120 shares of company stock worth $15,836,577. Insiders own 12.61% of the company's stock.

Institutional Investors Weigh In On Marqeta

Several hedge funds and other institutional investors have recently modified their holdings of MQ. Alpine Global Management LLC bought a new stake in shares of Marqeta during the first quarter valued at approximately $42,000. Blueshift Asset Management LLC increased its holdings in shares of Marqeta by 23.2% during the first quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company's stock valued at $51,000 after acquiring an additional 2,333 shares in the last quarter. R Squared Ltd increased its holdings in shares of Marqeta by 624.1% during the first quarter. R Squared Ltd now owns 13,106 shares of the company's stock valued at $54,000 after acquiring an additional 11,296 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Marqeta by 61.8% during the second quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company's stock worth $57,000 after buying an additional 3,737 shares in the last quarter. Finally, AQR Capital Management LLC bought a new stake in Marqeta during the first quarter worth $57,000. Institutional investors own 78.64% of the company's stock.

Marqeta Trading Up 0.8%

NASDAQ:MQ opened at $5.10 on Friday. The stock has a market cap of $2.29 billion, a P/E ratio of -39.23 and a beta of 1.51. The stock's 50-day moving average is $5.92 and its 200-day moving average is $5.25. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.04.

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.

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