Marqeta (NASDAQ:MQ) Given New $7.50 Price Target at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has raised Marqeta's price target from $5.50 to $7.50, indicating a potential Upside of 14.17% from current prices.
• Marqeta's stock increased by 15.7% on Thursday, reaching $6.57, with a significant trading volume of over 13 million shares.
• Institutional investors now hold 78.64% of Marqeta's shares, including notable increases from firms like Price T Rowe Associates Inc. and Wellington Management Group LLP.

Marqeta (NASDAQ:MQ - Get Free Report) had its target price upped by equities researchers at The Goldman Sachs Group from $5.50 to $7.50 in a report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective points to a potential upside of 14.17% from the company's current price.

A number of other analysts have also recently commented on the company. Keefe, Bruyette & Woods upped their price target on Marqeta from $4.50 to $6.50 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Marqeta in a report on Thursday, July 17th. They issued a "hold" rating and a $6.00 target price on the stock. JPMorgan Chase & Co. raised shares of 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. UBS Group increased their price target on Marqeta from $5.00 to $5.75 and gave the company a "neutral" rating in a report on Thursday. Finally, Barclays boosted their target price on Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $5.93.

Marqeta Stock Up 15.7%

Shares of NASDAQ:MQ traded up $0.89 during trading on Thursday, hitting $6.57. The stock had a trading volume of 13,238,097 shares, compared to its average volume of 6,684,352. Marqeta has a 12 month low of $3.37 and a 12 month high of $6.84. The company has a market capitalization of $3.08 billion, a PE ratio of 65.45 and a beta of 1.54. The firm's fifty day moving average is $5.68 and its 200 day moving average is $4.66.

Marqeta (NASDAQ:MQ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The firm had revenue of $139.07 million during the quarter, compared to analysts' expectations of $135.66 million. Marqeta had a return on equity of 5.11% and a net margin of 10.43%. The company's revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) earnings per share. Equities research analysts expect that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Marqeta

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in shares of Marqeta by 126.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,097,173 shares of the company's stock worth $169,322,000 after purchasing an additional 22,928,070 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Marqeta during the fourth quarter worth $72,879,000. RPD Fund Management LLC acquired a new stake in Marqeta in the 4th quarter valued at about $37,289,000. Wellington Management Group LLP purchased a new position in Marqeta in the fourth quarter worth approximately $19,717,000. Finally, North Reef Capital Management LP increased its holdings in Marqeta by 99.7% in the fourth quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company's stock valued at $29,513,000 after buying an additional 3,886,999 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.

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.

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