Marqeta (NASDAQ:MQ) Hits New 12-Month High - What's Next?

Marqeta, Inc. (NASDAQ:MQ - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $6.01 and last traded at $5.97, with a volume of 492658 shares. The stock had previously closed at $5.92.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MQ. Keefe, Bruyette & Woods lifted their price target on Marqeta from $4.50 to $6.50 and gave the company a "market perform" rating in a report on Wednesday. JPMorgan Chase & Co. upgraded Marqeta from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $5.00 to $6.00 in a report on Monday, May 19th. Barclays boosted their target price on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. The Goldman Sachs Group dropped their target price on Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, UBS Group boosted their target price on Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $5.36.

Marqeta Price Performance

The stock has a 50 day moving average price of $5.23 and a two-hundred day moving average price of $4.37. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 59.20 and a beta of 1.54.

Marqeta (NASDAQ:MQ - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. The firm had revenue of $139.07 million during the quarter, compared to analyst estimates of $135.66 million. Marqeta had a return on equity of 5.11% and a net margin of 10.43%. Marqeta's revenue was up 17.9% compared to the same quarter last year. During the same period last year, the business posted ($0.07) earnings per share. As a group, research analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Marqeta

Institutional investors have recently bought and sold shares of the business. Arizona State Retirement System increased its position 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 during the period. Raymond James Financial Inc. acquired a new position in Marqeta in the 4th quarter valued at about $288,000. Swiss National Bank increased its position in Marqeta by 2.5% in the 4th quarter. Swiss National Bank now owns 788,900 shares of the company's stock valued at $2,990,000 after acquiring an additional 19,100 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in Marqeta in the 4th quarter valued at about $111,000. Finally, Corient Private Wealth LLC increased its position in Marqeta by 438.3% in the 4th quarter. Corient Private Wealth LLC now owns 125,393 shares of the company's stock valued at $475,000 after acquiring an additional 102,100 shares during the period. 78.64% of the stock is owned by hedge funds and other institutional investors.

About Marqeta

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.