Marqeta, Inc. (NASDAQ:MQ) Receives Consensus Rating of "Reduce" from Brokerages

Key Points

• Marqeta has a consensus “Reduce” rating from 11 brokerages: eight analysts recommend holding, two recommend selling and one recommends buying. The average 12-month price target is $20.13.
• Marqeta reported quarterly earnings of $0.02 per share, beating the consensus estimate of a $0.01 loss, while revenue rose 19.2% year over year to $165.8 million.
• The stock opened at $18.36, with a market capitalization of approximately $1.95 billion. Insiders own 13.71% of shares, while institutional investors hold 78.64%; two insiders recently sold shares under pre-arranged trading plans.

Marqeta, Inc. (NASDAQ:MQ - Get Free Report) has earned a consensus recommendation of "Reduce" from the eleven research firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $20.1250.

A number of brokerages recently issued reports on MQ. UBS Group boosted their price objective on Marqeta from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Weiss Ratings restated a "sell (d)" rating on shares of Marqeta in a research report on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Marqeta from $4.50 to $18.00 and gave the company a "hold" rating in a research note on Thursday, July 2nd.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $18.36 on Thursday. The company has a market cap of $1.95 billion, a P/E ratio of 459.11 and a beta of 1.31. Marqeta has a 1 year low of $14.80 and a 1 year high of $28.16. The stock's fifty day moving average price is $16.27 and its 200-day moving average price is $16.48.

Marqeta (NASDAQ:MQ - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.03. Marqeta had a net margin of 0.33% and a return on equity of 0.27%. The company had revenue of $165.80 million for the quarter, compared to the consensus estimate of $164.30 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. The firm's revenue for the quarter was up 19.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Marqeta will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Marqeta

In other Marqeta news, Director Elaine Paul sold 4,537 shares of Marqeta stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $15.20, for a total value of $68,962.40. Following the sale, the director owned 8,900 shares of the company's stock, valued at $135,280. The trade was a 33.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 company'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 value of $316,500.00. Following the sale, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 13.71% of the company's stock.

Institutional Investors Weigh In On Marqeta

A number of hedge funds have recently bought and sold shares of MQ. Tudor Investment Corp ET AL grew its position in Marqeta by 1,078.8% in the third quarter. Tudor Investment Corp ET AL now owns 1,405,491 shares of the company's stock worth $7,421,000 after acquiring an additional 1,286,258 shares in the last quarter. Abbington Investment Group purchased a new stake in Marqeta during the fourth quarter valued at approximately $1,939,000. SG Americas Securities LLC raised its position in Marqeta by 603.5% during the fourth quarter. SG Americas Securities LLC now owns 1,095,787 shares of the company's stock valued at $5,205,000 after purchasing an additional 940,022 shares during the period. Donor Advised Charitable Giving Inc. bought a new stake in shares of Marqeta in the 4th quarter valued at approximately $1,257,000. Finally, COFG Advisors LLC bought a new stake in shares of Marqeta in the 4th quarter valued at approximately $709,000. Hedge funds and other institutional investors own 78.64% of the company's stock.

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.

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