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

Key Points

• Analysts maintain a “Hold” consensus on Marqeta, with seven of 11 analysts rating the stock a hold. The average 12-month price target is $19.75, compared with the reported share price of $16.36.
• Marqeta exceeded quarterly expectations, reporting $0.07 in EPS versus the $0.01 consensus estimate and $176 million in revenue versus $172.96 million expected. Revenue increased 17% year over year.
• Insiders recently sold shares under pre-arranged Rule 10b5-1 plans, while institutional and hedge-fund investors own a substantial 78.64% of the company; insiders hold 13.71%.

Shares of Marqeta, Inc. (NASDAQ:MQ - Get Free Report) have earned an average recommendation of "Hold" from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $19.75.

Several brokerages recently commented on MQ. Zacks Research upgraded Marqeta from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft raised their price objective on Marqeta from $4.50 to $18.00 and gave the company a "hold" rating in a report on Thursday, July 2nd. Weiss Ratings raised shares of Marqeta from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods upped their target price on shares of Marqeta from $18.00 to $19.00 and gave the stock a "market perform" rating in a report on Wednesday, August 5th. Finally, UBS Group increased their target price on shares of Marqeta from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th.

Insider Transactions at Marqeta

In other Marqeta news, Director Elaine Paul sold 4,537 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $15.20, for a total value of $68,962.40. Following the completion of the sale, the director owned 8,900 shares in the company, valued at approximately $135,280. This represents a 33.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Todd Pollak sold 18,750 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.88, for a total transaction of $316,500.00. Following the completion of the transaction, the executive directly owned 185,008 shares in the company, valued at $3,122,935.04. This trade represents a 9.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 13.71% of the company's stock.

Institutional Investors Weigh In On Marqeta

A number of large investors have recently made changes to their positions in the stock. Quarry LP purchased a new position in Marqeta during the third quarter worth approximately $26,000. Western Wealth Management LLC acquired a new position in Marqeta during the first quarter worth $27,000. EFG International AG purchased a new stake in Marqeta in the 4th quarter valued at $27,000. CWM LLC grew its holdings in Marqeta by 82.2% in the 4th quarter. CWM LLC now owns 6,254 shares of the company's stock valued at $30,000 after buying an additional 2,821 shares in the last quarter. Finally, Leonteq Securities AG purchased a new stake in Marqeta in the 4th quarter valued at $33,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Marqeta Stock Performance

MQ stock opened at $16.36 on Monday. Marqeta has a 12-month low of $14.80 and a 12-month high of $25.83. The business's 50-day moving average is $16.48 and its 200 day moving average is $16.33. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 148.73 and a beta of 1.30.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.06. The business had revenue of $176.00 million during the quarter, compared to analysts' expectations of $172.96 million. Marqeta had a return on equity of 1.36% and a net margin of 1.53%.The company's revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts forecast that Marqeta will post 0.28 EPS for the current fiscal year.

Marqeta Company Profile

Marqeta is a modern card issuing and payment processing platform that enables businesses to design, launch and manage customized payment cards. The company offers a fully programmable open API that allows clients to create virtual, physical and tokenized payment cards with real-time transaction controls and dynamic spend limits. By leveraging Marqeta's infrastructure, companies can streamline their payment operations, reduce time to market and deliver tailored payment experiences to end consumers.

Founded in 2010 and headquartered in Oakland, California, Marqeta was established by CEO Jason Gardner with the goal of transforming traditional card issuance through cloud-native technology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source