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

Shares of Marqeta, Inc. (NASDAQ:MQ - Get Free Report) have earned a consensus rating of "Hold" from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $5.18.

MQ has been the topic of several research analyst reports. UBS Group raised their price objective on Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. upgraded Marqeta from a "neutral" rating to an "overweight" rating and raised their target price for the company from $5.00 to $6.00 in a research note on Monday, May 19th. Barclays raised their target price on Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. The Goldman Sachs Group cut their target price on Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods raised their target price on Marqeta from $4.00 to $4.50 and gave the company a "market perform" rating in a research note on Thursday, May 8th.

Hedge Funds Weigh In On Marqeta

A number of institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new position in Marqeta during the 4th quarter valued at about $33,000. Blueshift Asset Management LLC purchased a new position in Marqeta during the 4th quarter valued at about $38,000. Covestor Ltd grew its stake in Marqeta by 1,255.4% during the 4th quarter. Covestor Ltd now owns 10,030 shares of the company's stock valued at $38,000 after acquiring an additional 9,290 shares in the last quarter. Bank of Montreal Can grew its stake in Marqeta by 125.6% during the 4th quarter. Bank of Montreal Can now owns 10,030 shares of the company's stock valued at $38,000 after acquiring an additional 49,243 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in Marqeta during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 78.64% of the company's stock.

Marqeta Trading Up 2.9%

MQ stock opened at $5.75 on Wednesday. Marqeta has a twelve month low of $3.37 and a twelve month high of $6.00. The company has a market capitalization of $2.69 billion, a P/E ratio of 57.50 and a beta of 1.53. The firm has a 50 day simple moving average of $4.84 and a 200-day simple moving average of $4.23.

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

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