Marqeta (NASDAQ:MQ) Trading Down 5% - What's Next?

Marqeta, Inc. (NASDAQ:MQ - Get Free Report)'s stock price was down 5% on Friday . The company traded as low as $3.97 and last traded at $3.89. Approximately 1,206,860 shares were traded during trading, a decline of 81% from the average daily volume of 6,205,535 shares. The stock had previously closed at $4.09.

Analyst Ratings Changes

A number of equities analysts have issued reports on MQ shares. The Goldman Sachs Group cut their target price 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. Wells Fargo & Company reduced their price objective on Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Thursday, January 16th. Eleven 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 $5.29.

Marqeta Price Performance

The firm's fifty day moving average is $4.05 and its two-hundred day moving average is $4.03. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 218.00 and a beta of 1.41.

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. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company had revenue of $139.07 million during the quarter, compared to analyst estimates of $135.66 million. During the same period in the prior year, the business posted ($0.07) EPS. The business's revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Marqeta

Several institutional investors have recently modified their holdings of MQ. Headlands Technologies LLC bought a new stake in Marqeta in the fourth quarter worth about $33,000. Blueshift Asset Management LLC acquired a new position in shares of Marqeta in the 4th quarter worth approximately $38,000. Covestor Ltd raised its holdings in shares of Marqeta by 1,255.4% in the 4th quarter. Covestor Ltd now owns 10,030 shares of the company's stock worth $38,000 after purchasing an additional 9,290 shares in the last quarter. Bank of Montreal Can lifted its stake in Marqeta by 125.6% during the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company's stock valued at $38,000 after purchasing an additional 49,243 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in Marqeta during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 78.64% of the company's stock.

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.