Marqeta (NASDAQ:MQ) Price Target Raised to $6.50

Marqeta (NASDAQ:MQ - Get Free Report) had its price target raised by 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 objective suggests a potential upside of 8.51% from the stock's current price.

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

Marqeta Stock Up 1.2%

Marqeta stock traded up $0.07 during mid-day trading on Wednesday, hitting $5.99. 3,719,576 shares of the company were exchanged, compared to its average volume of 6,288,846. The business has a fifty day moving average of $5.27 and a 200 day moving average of $4.38. Marqeta has a 1-year low of $3.37 and a 1-year high of $6.01. The company has a market capitalization of $2.80 billion, a PE ratio of 59.90 and a beta of 1.54.

Marqeta (NASDAQ:MQ - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) earnings per share (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 firm had revenue of $139.07 million during the quarter, compared to analyst estimates of $135.66 million. During the same period in the prior year, the company posted ($0.07) earnings per share. The business's revenue for the quarter was up 17.9% compared to the same quarter last year. Research analysts expect that Marqeta will post 0.06 earnings per share for the current year.

Hedge Funds Weigh In On Marqeta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blueshift Asset Management LLC lifted its stake in Marqeta by 23.2% in the 1st quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company's stock valued at $51,000 after acquiring an additional 2,333 shares in the last quarter. California State Teachers Retirement System lifted its stake in Marqeta by 0.6% in the 4th quarter. California State Teachers Retirement System now owns 380,608 shares of the company's stock valued at $1,443,000 after acquiring an additional 2,343 shares in the last quarter. Arizona State Retirement System lifted its stake in Marqeta by 2.5% in the 4th quarter. Arizona State Retirement System now owns 116,397 shares of the company's stock valued at $441,000 after acquiring an additional 2,860 shares in the last quarter. Xponance Inc. lifted its stake in Marqeta by 11.5% in the 4th quarter. Xponance Inc. now owns 34,314 shares of the company's stock valued at $130,000 after acquiring an additional 3,546 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in Marqeta by 8.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 49,615 shares of the company's stock valued at $188,000 after acquiring an additional 3,938 shares in 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.