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.
View Our Latest Report on MQ
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
(
Get Free Report)
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.
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