Keefe, Bruyette & Woods Issues Positive Forecast for Marqeta (NASDAQ:MQ) Stock Price

Marqeta (NASDAQ:MQ - Get Free Report) had its target price hoisted by research analysts at Keefe, Bruyette & Woods from $4.50 to $6.50 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 8.70% from the stock's previous close.

A number of other equities analysts have also weighed in on MQ. The Goldman Sachs Group decreased their target price on Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. UBS Group boosted their target price on Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Barclays boosted their target price on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. raised shares of Marqeta from a "neutral" rating to an "overweight" rating and upped their price target for the company from $5.00 to $6.00 in a research report on Monday, May 19th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Marqeta has a consensus rating of "Hold" and a consensus price target of $5.36.

Marqeta Stock Down 0.2%

Shares of MQ stock traded down $0.01 during mid-day trading on Wednesday, reaching $5.98. 5,026,031 shares of the company's stock traded hands, compared to its average volume of 6,283,815. Marqeta has a 12 month low of $3.37 and a 12 month high of $6.01. The company has a market cap of $2.80 billion, a P/E ratio of 59.80 and a beta of 1.54. The company's 50-day moving average price is $5.27 and its 200-day moving average price is $4.38.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. The firm had revenue of $139.07 million for the quarter, compared to analysts' expectations of $135.66 million. Marqeta had a net margin of 10.43% and a return on equity of 5.11%. The company's quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) EPS. Equities analysts predict that Marqeta will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Blueshift Asset Management LLC increased its stake in shares of Marqeta by 23.2% in the first quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company's stock worth $51,000 after purchasing an additional 2,333 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Marqeta by 0.6% in the fourth quarter. California State Teachers Retirement System now owns 380,608 shares of the company's stock worth $1,443,000 after purchasing an additional 2,343 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Marqeta by 2.5% in the fourth quarter. Arizona State Retirement System now owns 116,397 shares of the company's stock worth $441,000 after purchasing an additional 2,860 shares in the last quarter. Xponance Inc. increased its stake in shares of Marqeta by 11.5% in the fourth quarter. Xponance Inc. now owns 34,314 shares of the company's stock worth $130,000 after purchasing an additional 3,546 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its stake in shares of Marqeta by 8.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 49,615 shares of the company's stock worth $188,000 after purchasing an additional 3,938 shares in the last quarter. 78.64% of the stock is currently owned by 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.