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

Key Points

• Marqeta, Inc. has received a consensus rating of "Hold" from thirteen brokerages, with the average twelve-month price target set at $6.11.
• Shares of Marqeta have seen recent target price adjustments, with Barclays setting a new target of $5.00 and JPMorgan raising theirs to $8.00.
• Insider activity has been noteworthy, as Director Jason M. Gardner sold 2,250,000 shares at an average price of $6.63, reducing his ownership by 12.75%.

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

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Keefe, Bruyette & Woods upped 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. JPMorgan Chase & Co. upped their target price on shares of Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Marqeta in a research note on Thursday, July 17th. They issued a "hold" rating and a $6.00 target price for the company. Finally, UBS Group upped their target price on shares of Marqeta from $5.00 to $5.75 and gave the stock a "neutral" rating in a research note on Thursday, August 7th.

Marqeta Trading Up 1.1%

Shares of NASDAQ MQ opened at $6.50 on Thursday. The firm has a market cap of $3.04 billion, a PE ratio of -50.00 and a beta of 1.54. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.04. The company has a fifty day moving average price of $5.80 and a 200 day moving average price of $4.75.

Insider Activity at Marqeta

In other news, Director Jason M. Gardner sold 2,250,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $6.63, for a total transaction of $14,917,500.00. Following the completion of the transaction, the director directly owned 15,399,000 shares in the company, valued at $102,095,370. This represents a 12.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marqeta

Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can raised its holdings in Marqeta by 125.6% in 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 during the period. Covestor Ltd increased its stake in Marqeta by 1,255.4% in the fourth quarter. Covestor Ltd now owns 10,030 shares of the company's stock valued at $38,000 after acquiring an additional 9,290 shares during the last quarter. Stifel Financial Corp bought a new position in Marqeta in the fourth quarter valued at approximately $41,000. Alpine Global Management LLC bought a new position in Marqeta in the first quarter valued at approximately $42,000. Finally, Blueshift Asset Management LLC increased its stake in Marqeta by 23.2% in 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 during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.