Marqeta (NASDAQ:MQ) Sets New 12-Month High - Should You Buy?

Marqeta, Inc. (NASDAQ:MQ - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $4.21 and last traded at $4.18, with a volume of 4627099 shares trading hands. The stock had previously closed at $4.12.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MQ. The Goldman Sachs Group dropped their price objective on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company reduced their price objective on Marqeta from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lowered their target price on Marqeta from $5.00 to $4.00 and set a "market perform" rating for the company in a research note on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $5.29.

Marqeta Stock Up 1.7 %

The stock has a market cap of $1.95 billion, a P/E ratio of 193.25 and a beta of 1.41. The stock has a fifty day simple moving average of $4.06 and a 200-day simple moving average of $4.03.

Marqeta (NASDAQ:MQ - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.05. The firm had revenue of $135.79 million during the quarter, compared to the consensus estimate of $132.71 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. Sell-side analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Institutional Trading of Marqeta

A number of large investors have recently bought and sold shares of MQ. Nordea Investment Management AB increased its position in shares of Marqeta by 107.8% during the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company's stock worth $3,265,000 after acquiring an additional 441,617 shares in the last quarter. Congress Asset Management Co. increased its holdings in Marqeta by 7.6% during the 4th quarter. Congress Asset Management Co. now owns 1,135,842 shares of the company's stock worth $4,305,000 after purchasing an additional 80,161 shares in the last quarter. Xponance Inc. raised its stake in shares of 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 purchasing an additional 3,546 shares during the period. Mission Creek Capital Partners Inc. acquired a new position in shares of Marqeta during the fourth quarter worth about $778,000. Finally, Quantbot Technologies LP bought a new position in shares of Marqeta during the fourth quarter worth about $235,000. 78.64% of the stock is owned by institutional investors.

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.