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Marqeta (NASDAQ:MQ) Given New $6.50 Price Target at Keefe, Bruyette & Woods

Marqeta logo with Business Services background

Marqeta (NASDAQ:MQ - Get Free Report) had its price objective hoisted by equities research analysts at Keefe, Bruyette & Woods from $4.50 to $6.50 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 13.84% from the company's previous close.

Several other research firms also recently commented on MQ. UBS Group upped their price objective on shares of Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised shares of Marqeta from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $5.00 to $6.00 in a report on Monday, May 19th. Barclays upped their price objective on shares of 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 dropped their price objective on shares of 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 assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $5.36.

Get Our Latest Analysis on MQ

Marqeta Stock Performance

MQ traded down $0.27 during mid-day trading on Wednesday, reaching $5.71. 5,994,991 shares of the stock were exchanged, compared to its average volume of 6,298,642. The stock has a market capitalization of $2.67 billion, a PE ratio of 57.10 and a beta of 1.54. The company has a 50 day moving average price of $5.34 and a two-hundred day moving average price of $4.41. Marqeta has a 1 year low of $3.37 and a 1 year high of $6.01.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Blueshift Asset Management LLC lifted its holdings in Marqeta by 23.2% in the 1st 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 Marqeta by 0.6% in the 4th quarter. California State Teachers Retirement System now owns 380,608 shares of the company's stock worth $1,443,000 after acquiring an additional 2,343 shares during the last quarter. Arizona State Retirement System increased 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 worth $441,000 after acquiring an additional 2,860 shares during the last quarter. Xponance Inc. increased its stake in Marqeta by 11.5% in the 4th quarter. Xponance Inc. now owns 34,314 shares of the company's stock worth $130,000 after acquiring an additional 3,546 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased 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 worth $188,000 after acquiring an additional 3,938 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

About Marqeta

(Get Free Report)

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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