Marqeta, Inc. (NASDAQ:MQ) Short Interest Up 21.4% in May

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

Marqeta Stock Down 0.5%

MQ traded down $0.03 during trading on Friday, hitting $5.47. The company had a trading volume of 6,391,165 shares, compared to its average volume of 6,196,910. The company has a market capitalization of $2.56 billion, a PE ratio of 273.50 and a beta of 1.53. Marqeta has a one year low of $3.37 and a one year high of $6.00. The firm's 50-day moving average price is $4.45 and its 200 day moving average price is $4.10.

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, beating the consensus estimate of ($0.05) by $0.03. The business had revenue of $139.07 million for the quarter, compared to analysts' expectations of $135.66 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm's revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. Sell-side analysts forecast that Marqeta will post 0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. raised Marqeta from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $5.00 to $6.00 in a research note on Monday, May 19th. The Goldman Sachs Group decreased their price objective on Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their price objective on Marqeta from $4.00 to $4.50 and gave the stock a "market perform" rating in a research note on Thursday, May 8th. Barclays boosted their price target on shares of Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, UBS Group boosted their price target on shares of Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Marqeta presently has an average rating of "Hold" and an average target price of $5.18.

Institutional Investors Weigh In On Marqeta

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Congress Asset Management Co. lifted its position in Marqeta by 7.6% during the 4th quarter. Congress Asset Management Co. now owns 1,135,842 shares of the company's stock worth $4,305,000 after buying an additional 80,161 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Marqeta during the 4th quarter worth about $288,000. Xponance Inc. lifted its position in Marqeta by 11.5% during the 4th quarter. Xponance Inc. now owns 34,314 shares of the company's stock worth $130,000 after buying an additional 3,546 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Marqeta during the 4th quarter worth about $1,520,000. Finally, Northern Trust Corp lifted its position in Marqeta by 3.9% during the 4th quarter. Northern Trust Corp now owns 4,301,993 shares of the company's stock worth $16,305,000 after buying an additional 161,968 shares in the last quarter. 78.64% of the stock is owned by institutional investors.

Marqeta Company Profile

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.