Marqeta (NASDAQ:MQ) Earns Hold Rating from Analysts at Deutsche Bank Aktiengesellschaft

Stock analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Marqeta (NASDAQ:MQ - Get Free Report) in a report issued on Thursday, MarketBeat.com reports. The firm set a "hold" rating and a $6.00 price target on the stock. Deutsche Bank Aktiengesellschaft's price objective would suggest a potential upside of 4.71% from the company's previous close.

MQ has been the subject of several other reports. JPMorgan Chase & Co. upgraded shares of Marqeta from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $5.00 to $6.00 in a report on Monday, May 19th. UBS Group boosted their target price on Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Barclays raised their price target on Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Keefe, Bruyette & Woods upped their price target on shares of Marqeta from $4.50 to $6.50 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Finally, The Goldman Sachs Group reduced their price objective on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Marqeta has an average rating of "Hold" and an average target price of $5.55.

Marqeta Trading Down 2.9%

Shares of MQ stock traded down $0.17 during trading hours on Thursday, reaching $5.73. The stock had a trading volume of 3,142,854 shares, compared to its average volume of 6,301,193. The firm has a market capitalization of $2.68 billion, a PE ratio of 57.30 and a beta of 1.54. Marqeta has a 12 month low of $3.37 and a 12 month high of $6.01. The stock's fifty day simple moving average is $5.51 and its 200 day simple moving average is $4.49.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) earnings per share 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 analysts' expectations of $135.66 million. Marqeta had a return on equity of 5.11% and a net margin of 10.43%. Marqeta's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) EPS. As a group, equities research analysts anticipate that Marqeta will post 0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Marqeta

Several institutional investors and hedge funds have recently bought and sold shares of MQ. Raymond James Financial Inc. acquired a new stake in shares of Marqeta during the fourth quarter worth about $288,000. Allspring Global Investments Holdings LLC increased its stake in shares of Marqeta by 44.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 67,579 shares of the company's stock worth $287,000 after acquiring an additional 20,909 shares during the period. Xponance Inc. boosted its holdings in Marqeta by 11.5% in the fourth quarter. Xponance Inc. now owns 34,314 shares of the company's stock valued at $130,000 after purchasing an additional 3,546 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Marqeta in the fourth quarter valued at $1,520,000. Finally, Northern Trust Corp grew 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 purchasing an additional 161,968 shares during the period. 78.64% of the stock is owned by hedge funds and other 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.