Marqeta, Inc. (NASDAQ:MQ - Get Free Report) shares hit a new 52-week high on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $6.00 to $8.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Marqeta traded as high as $6.45 and last traded at $6.70, with a volume of 56860 shares trading hands. The stock had previously closed at $5.68.
Several other equities research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Marqeta from $4.50 to $6.50 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Barclays raised their price objective on Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Marqeta in a report on Thursday, July 17th. They issued a "hold" rating and a $6.00 target price for the company. The Goldman Sachs Group increased their price target on Marqeta from $5.50 to $7.50 and gave the company a "neutral" rating in a report on Thursday. Finally, UBS Group boosted their price objective on shares of Marqeta from $5.00 to $5.75 and gave the company a "neutral" rating in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $6.11.
Check Out Our Latest Report on Marqeta
Insider Transactions at Marqeta
In other Marqeta news, Director Jason M. Gardner sold 2,250,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $6.63, for a total value of $14,917,500.00. Following the completion of the transaction, the director owned 15,399,000 shares of the company's stock, valued at $102,095,370. This represents a 12.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 12.12% of the company's stock.
Institutional Trading of Marqeta
Institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its stake in Marqeta by 126.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,097,173 shares of the company's stock worth $169,322,000 after purchasing an additional 22,928,070 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of Marqeta in the fourth quarter valued at about $72,879,000. RPD Fund Management LLC acquired a new position in Marqeta during the 4th quarter worth about $37,289,000. Wellington Management Group LLP bought a new stake in Marqeta during the 4th quarter worth about $19,717,000. Finally, North Reef Capital Management LP increased its position in Marqeta by 99.7% in the 4th quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company's stock valued at $29,513,000 after acquiring an additional 3,886,999 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.
Marqeta Price Performance
The company has a market capitalization of $2.99 billion, a P/E ratio of -49.08 and a beta of 1.54. The stock's 50 day simple moving average is $5.73 and its two-hundred day simple moving average is $4.71.
Marqeta Company Profile
(
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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