Marqeta (NASDAQ:MQ - Get Free Report) had its price objective upped 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 would indicate a potential upside of 10.45% from the company's previous close.
MQ has been the topic of several other research reports. JPMorgan Chase & Co. raised shares of Marqeta from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $5.00 to $6.00 in a research report on Monday, May 19th. UBS Group boosted their price target on shares of Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Barclays boosted their price target on shares of Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Finally, The Goldman Sachs Group lowered their price target on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Marqeta presently has an average rating of "Hold" and a consensus price target of $5.36.
View Our Latest Stock Report on MQ
Marqeta Price Performance
Shares of NASDAQ MQ traded down $0.10 during mid-day trading on Wednesday, reaching $5.89. 1,572,586 shares of the company's stock traded hands, compared to its average volume of 6,276,454. The stock has a market cap of $2.76 billion, a P/E ratio of 58.85 and a beta of 1.54. The business has a 50-day simple moving average of $5.31 and a 200 day simple moving average of $4.40. Marqeta has a 1-year low of $3.37 and a 1-year high of $6.01.
Marqeta (NASDAQ:MQ - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. Marqeta had a net margin of 10.43% and a return on equity of 5.11%. The company had revenue of $139.07 million for the quarter, compared to analyst estimates of $135.66 million. During the same period last year, the firm earned ($0.07) earnings per share. The firm's revenue was up 17.9% on a year-over-year basis. Equities research analysts anticipate that Marqeta will post 0.06 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Marqeta
A number of institutional investors have recently made changes to their positions in the business. Blueshift Asset Management LLC boosted its position in Marqeta by 23.2% during the 1st quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company's stock valued at $51,000 after buying an additional 2,333 shares during the period. California State Teachers Retirement System boosted its position in Marqeta by 0.6% during the 4th quarter. California State Teachers Retirement System now owns 380,608 shares of the company's stock valued at $1,443,000 after buying an additional 2,343 shares during the period. Arizona State Retirement System raised its holdings 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 purchasing an additional 2,860 shares in the last quarter. Xponance Inc. raised its holdings 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 purchasing an additional 3,546 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings 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 purchasing an additional 3,938 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company's stock.
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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