Barclays Issues Positive Forecast for Marqeta (NASDAQ:MQ) Stock Price

Marqeta (NASDAQ:MQ - Get Free Report) had its target price boosted by stock analysts at Barclays from $4.00 to $5.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's target price suggests a potential downside of 0.10% from the company's previous close.

MQ has been the topic of a number of other reports. Keefe, Bruyette & Woods raised their target price on shares of Marqeta from $4.00 to $4.50 and gave the stock a "market perform" rating in a research report on Thursday, May 8th. The Goldman Sachs Group lowered their price target on Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company reduced their target price on Marqeta from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 16th. Finally, UBS Group increased their price target on Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $5.09.

Marqeta Price Performance

Shares of MQ stock traded up $0.11 during trading hours on Monday, reaching $5.01. 6,609,800 shares of the stock were exchanged, compared to its average volume of 5,880,719. The business's fifty day moving average is $4.11 and its two-hundred day moving average is $4.01. The firm has a market capitalization of $2.52 billion, a P/E ratio of 250.25 and a beta of 1.41. Marqeta has a 12-month low of $3.37 and a 12-month high of $6.01.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The firm had revenue of $139.07 million during the quarter, compared to the consensus estimate of $135.66 million. During the same period in the prior year, the company posted ($0.07) earnings per share. The firm's quarterly revenue was up 17.9% compared to the same quarter last year. As a group, equities research analysts predict that Marqeta will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Marqeta

A number of hedge funds and other institutional investors have recently modified their holdings of MQ. Price T Rowe Associates Inc. MD lifted its holdings in Marqeta by 126.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,097,173 shares of the company's stock valued at $169,322,000 after acquiring an additional 22,928,070 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in Marqeta in the fourth quarter worth approximately $72,879,000. RPD Fund Management LLC bought a new position in shares of Marqeta in the fourth quarter valued at $37,289,000. Wellington Management Group LLP bought a new stake in shares of Marqeta during the 4th quarter worth $19,717,000. Finally, North Reef Capital Management LP grew its holdings in shares of Marqeta by 99.7% in the 4th quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company's stock worth $29,513,000 after acquiring an additional 3,886,999 shares during the last quarter. Institutional investors 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.