Deutsche Bank Aktiengesellschaft Begins Coverage on Marqeta (NASDAQ:MQ)

Research analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of Marqeta (NASDAQ:MQ - Get Free Report) in a report released on Thursday, Marketbeat reports. The brokerage set a "hold" rating and a $6.00 price target on the stock. Deutsche Bank Aktiengesellschaft's price target suggests a potential upside of 1.69% from the stock's current price.

A number of other brokerages have also issued reports on MQ. UBS Group increased their target price on Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Barclays increased 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. JPMorgan Chase & Co. raised 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. The Goldman Sachs Group reduced 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. Finally, Keefe, Bruyette & Woods increased their price objective on Marqeta from $4.50 to $6.50 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $5.55.

Marqeta Stock Performance

NASDAQ MQ traded up $0.02 during trading hours on Thursday, reaching $5.90. The stock had a trading volume of 4,743,693 shares, compared to its average volume of 6,294,180. The stock has a fifty day moving average of $5.49 and a 200 day moving average of $4.47. The stock has a market cap of $2.76 billion, a P/E ratio of 59.00 and a beta of 1.54. Marqeta has a 52-week low of $3.37 and a 52-week high of $6.01.

Marqeta (NASDAQ:MQ - Get Free Report) last released 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 return on equity of 5.11% and a net margin of 10.43%. The business had revenue of $139.07 million for the quarter, compared to analyst estimates of $135.66 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. The business's quarterly revenue was up 17.9% compared to the same quarter last year. On average, equities research analysts forecast that Marqeta will post 0.06 EPS for the current year.

Institutional Trading of Marqeta

Large investors have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of Marqeta during the fourth quarter valued at $33,000. Blueshift Asset Management LLC acquired a new stake in shares of Marqeta during the fourth quarter valued at $38,000. Covestor Ltd lifted its position in 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 buying an additional 9,290 shares during the period. Bank of Montreal Can lifted its position in 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 buying an additional 49,243 shares during the period. Finally, Stifel Financial Corp purchased a new position in Marqeta during the fourth quarter worth about $41,000. Institutional investors and hedge funds own 78.64% of the company's stock.

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.