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

Marqeta, Inc. (NASDAQ:MQ - Get Free Report) has been assigned a consensus recommendation of "Hold" from the thirteen analysts that are covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $5.18.

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

Hedge Funds Weigh In On Marqeta

Large investors have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new position in Marqeta in the fourth quarter valued at $33,000. Blueshift Asset Management LLC acquired a new position in Marqeta in the fourth quarter valued at $38,000. Covestor Ltd boosted 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 in the last quarter. Bank of Montreal Can boosted its stake in Marqeta by 125.6% in the fourth 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 acquired a new position in Marqeta in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Marqeta Stock Up 0.6%

NASDAQ MQ traded up $0.03 on Friday, reaching $5.38. The stock had a trading volume of 6,226,906 shares, compared to its average volume of 6,150,657. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 269.00 and a beta of 1.41. Marqeta has a 12-month low of $3.37 and a 12-month high of $6.00. The stock has a fifty day moving average price of $4.39 and a two-hundred day moving average price of $4.07.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. The company had revenue of $139.07 million for the quarter, compared to analyst estimates of $135.66 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The firm's quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.07) earnings per share. Sell-side analysts forecast that Marqeta will post 0.06 earnings per share for the current fiscal year.

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.