Marqeta, Inc. (NASDAQ:MQ) Short Interest Update

Marqeta, Inc. (NASDAQ:MQ - Get Free Report) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totalling 12,920,000 shares, an increase of 21.4% from the April 30th total of 10,640,000 shares. Approximately 3.4% of the company's stock are short sold. Based on an average daily volume of 8,470,000 shares, the short-interest ratio is currently 1.5 days.

Marqeta Trading Up 2.2%

Shares of NASDAQ:MQ traded up $0.12 on Thursday, hitting $5.50. 10,991,017 shares of the company were exchanged, compared to its average volume of 6,169,957. Marqeta has a 1-year low of $3.37 and a 1-year high of $6.00. The stock's 50 day moving average price is $4.39 and its 200 day moving average price is $4.07. The firm has a market capitalization of $2.58 billion, a P/E ratio of 275.00 and a beta of 1.53.

Marqeta (NASDAQ:MQ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) EPS for the quarter, topping 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 business had revenue of $139.07 million during the quarter, compared to the consensus estimate of $135.66 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. The business's revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities analysts predict that Marqeta will post 0.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MQ shares. Barclays increased their price objective on shares of Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. The Goldman Sachs Group dropped their price objective 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. Keefe, Bruyette & Woods increased their price objective on shares of Marqeta from $4.00 to $4.50 and gave the company a "market perform" rating in a research note on Thursday, May 8th. UBS Group increased their price objective on shares of Marqeta from $4.75 to $5.00 and gave the company a "neutral" 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 increased their price objective for the company from $5.00 to $6.00 in a research note on Monday, May 19th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $5.18.

Institutional Investors Weigh In On Marqeta

Several institutional investors and hedge funds have recently made changes to their positions in MQ. Headlands Technologies LLC acquired a new stake in shares of Marqeta during the fourth quarter worth $33,000. Blueshift Asset Management LLC purchased a new position in shares of Marqeta during the fourth quarter worth $38,000. Covestor Ltd raised its holdings in shares of Marqeta by 1,255.4% during the fourth quarter. Covestor Ltd now owns 10,030 shares of the company's stock worth $38,000 after purchasing an additional 9,290 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Marqeta by 125.6% during the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company's stock worth $38,000 after purchasing an additional 49,243 shares during the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Marqeta during the fourth quarter worth $41,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.