Marqeta (NASDAQ:MQ) Stock Price Expected to Rise, Barclays Analyst Says

Marqeta (NASDAQ:MQ - Get Free Report) had its price target boosted by Barclays from $4.00 to $5.00 in a report issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price target would suggest a potential downside of 0.79% from the stock's current price.

A number of other equities analysts have also recently commented on the company. The Goldman Sachs Group decreased their target price on Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. UBS Group raised their price objective on Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Keefe, Bruyette & Woods boosted their price objective on Marqeta from $4.00 to $4.50 and gave the company a "market perform" rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company reduced their target price on shares of Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Marqeta has a consensus rating of "Hold" and a consensus target price of $5.09.

Marqeta Stock Up 0.8%

NASDAQ:MQ traded up $0.04 on Monday, hitting $5.04. The stock had a trading volume of 7,291,543 shares, compared to its average volume of 5,928,892. The business's 50-day simple moving average is $4.15 and its two-hundred day simple moving average is $3.99. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 252.00 and a beta of 1.41. Marqeta has a 52-week low of $3.37 and a 52-week high of $6.00.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 worth $169,322,000 after buying an additional 22,928,070 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Marqeta in the fourth quarter worth about $72,879,000. RPD Fund Management LLC bought a new stake in Marqeta during the fourth quarter worth approximately $37,289,000. Wellington Management Group LLP purchased a new stake in Marqeta during the fourth quarter valued at approximately $19,717,000. Finally, North Reef Capital Management LP raised its position in Marqeta by 99.7% during 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 purchasing an additional 3,886,999 shares during the period. Hedge funds and other 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.