Brokerages Set Marqeta, Inc. (NASDAQ:MQ) Target Price at $5.29

Marqeta, Inc. (NASDAQ:MQ - Get Free Report) has been assigned a consensus recommendation of "Hold" from the thirteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $5.00.

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped their target price on shares of Marqeta from $4.00 to $4.50 and gave the stock a "market perform" rating in a research note on Thursday. UBS Group upped their price target on Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a report on Thursday. The Goldman Sachs Group dropped their price target on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Thursday, January 16th.

Marqeta Stock Up 2.4 %

NASDAQ:MQ traded up $0.11 on Tuesday, reaching $4.60. 11,887,764 shares of the company's stock were exchanged, compared to its average volume of 5,829,301. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 230.00 and a beta of 1.41. Marqeta has a 52-week low of $3.37 and a 52-week high of $6.01. The business has a fifty day moving average of $4.06 and a 200-day moving average of $4.03.

Marqeta (NASDAQ:MQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company had revenue of $139.07 million during the quarter, compared to analysts' expectations of $135.66 million. During the same quarter last year, the company posted ($0.07) EPS. The firm's revenue was up 17.9% compared to the same quarter last year. As a group, equities analysts anticipate that Marqeta will post 0.06 earnings per share for the current year.

Hedge Funds Weigh In On Marqeta

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in shares of Marqeta by 226.4% in the third quarter. Barclays PLC now owns 861,414 shares of the company's stock valued at $4,238,000 after buying an additional 597,539 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Marqeta by 263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company's stock worth $6,499,000 after purchasing an additional 956,992 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Marqeta by 107.8% during the 4th quarter. Nordea Investment Management AB now owns 851,278 shares of the company's stock worth $3,265,000 after purchasing an additional 441,617 shares during the period. Tallon Kerry Patrick purchased a new position in shares of Marqeta in the 4th quarter valued at about $98,000. Finally, apricus wealth LLC acquired a new stake in shares of Marqeta in the fourth quarter valued at about $51,000. Institutional investors and hedge funds own 78.64% of the company's stock.

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.