Marqeta (NASDAQ:MQ) Price Target Cut to $6.00 by Analysts at Keefe, Bruyette & Woods

Key Points

• Marqeta's price target was reduced from $6.50 to $6.00 by analysts at Keefe, Bruyette & Woods, who currently rate the stock as "market perform," indicating a potential upside of 16.85% from its previous close.
• Other analysts have also varied their ratings, with JPMorgan raising their target from $6.00 to $8.00 and maintaining an "overweight" rating, while UBS Group lifted theirs from $5.00 to $5.75 with a "neutral" rating.
• The company's stock is currently down 2.7%, trading at $5.14, with analysts noting a significant percentage of shares in institutional ownership at 78.64%.

Marqeta (NASDAQ:MQ - Get Free Report) had its price target reduced by research analysts at Keefe, Bruyette & Woods from $6.50 to $6.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 16.85% from the company's previous close.

A number of other equities analysts have also weighed in on MQ. UBS Group lifted their price objective on shares of Marqeta from $5.00 to $5.75 and gave the company a "neutral" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Marqeta in a report on Thursday, July 17th. They issued a "hold" rating and a $6.00 price objective for the company. Finally, The Goldman Sachs Group raised their price objective on shares of Marqeta from $5.50 to $7.50 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.07.

Marqeta Stock Down 2.7%

MQ traded down $0.15 during trading on Wednesday, reaching $5.14. The company's stock had a trading volume of 1,373,073 shares, compared to its average volume of 6,108,634. The company has a market cap of $2.30 billion, a price-to-earnings ratio of -39.50 and a beta of 1.55. Marqeta has a 1 year low of $3.37 and a 1 year high of $7.04. The firm has a fifty day simple moving average of $5.95 and a two-hundred day simple moving average of $5.25.

Insider Transactions at Marqeta

In other news, Director Jason M. Gardner sold 2,250,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $6.63, for a total transaction of $14,917,500.00. Following the completion of the sale, the director owned 15,399,000 shares in the company, valued at $102,095,370. The trade was a 12.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Todd Pollak sold 116,493 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $6.19, for a total value of $721,091.67. Following the completion of the sale, the executive owned 364,525 shares of the company's stock, valued at approximately $2,256,409.75. This trade represents a 24.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,398,120 shares of company stock valued at $15,836,577. Corporate insiders own 12.61% of the company's stock.

Institutional Trading of Marqeta

Several institutional investors and hedge funds have recently modified their holdings of MQ. Allspring Global Investments Holdings LLC raised its holdings in Marqeta by 44.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 67,579 shares of the company's stock valued at $287,000 after buying an additional 20,909 shares during the last quarter. Strs Ohio bought a new stake in Marqeta in the first quarter valued at $698,000. Invesco Ltd. increased its position in Marqeta by 7.6% in the 1st quarter. Invesco Ltd. now owns 5,797,217 shares of the company's stock valued at $23,885,000 after buying an additional 411,571 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Marqeta during the fourth quarter valued at approximately $205,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Marqeta by 18.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 860,234 shares of the company's stock valued at $3,260,000 after purchasing an additional 133,188 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

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.

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