Marqeta (NASDAQ:MQ) Rating Increased to Overweight at JPMorgan Chase & Co.

Marqeta (NASDAQ:MQ - Get Free Report) was upgraded by equities researchers at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued on Monday, MarketBeat.com reports. The brokerage presently has a $6.00 target price on the stock, up from their prior target price of $5.00. JPMorgan Chase & Co.'s price target indicates a potential upside of 18.34% from the company's current price.

Several other equities research analysts have also weighed in on MQ. Barclays raised their target price on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. The Goldman Sachs Group cut their target price on Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their target price on Marqeta from $4.00 to $4.50 and gave the stock a "market perform" rating in a research report on Thursday, May 8th. Finally, UBS Group raised their price target on Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Marqeta currently has a consensus rating of "Hold" and a consensus target price of $5.18.

Marqeta Trading Down 2.5%

MQ traded down $0.13 during mid-day trading on Monday, hitting $5.07. 12,402,689 shares of the stock were exchanged, compared to its average volume of 6,080,069. The firm's fifty day moving average is $4.26 and its two-hundred day moving average is $4.00. Marqeta has a 1-year low of $3.37 and a 1-year high of $6.00. The company has a market cap of $2.37 billion, a PE ratio of 253.50 and a beta of 1.41.

Marqeta (NASDAQ:MQ - Get Free Report) last posted its quarterly 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 company had revenue of $139.07 million for the quarter, compared to analyst estimates of $135.66 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. Marqeta's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS. As a group, research analysts anticipate that Marqeta will post 0.06 earnings per share for the current year.

Institutional Trading of Marqeta

Institutional investors have recently bought and sold shares of the company. Barclays PLC lifted its position in shares of Marqeta by 226.4% in the third quarter. Barclays PLC now owns 861,414 shares of the company's stock valued at $4,238,000 after acquiring an additional 597,539 shares in the last quarter. Tallon Kerry Patrick purchased a new stake in shares of Marqeta in the fourth quarter valued at $98,000. apricus wealth LLC purchased a new stake in shares of Marqeta in the fourth quarter valued at $51,000. KBC Group NV lifted its position in shares of Marqeta by 68.8% in the fourth quarter. KBC Group NV now owns 22,546 shares of the company's stock valued at $85,000 after acquiring an additional 9,186 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its position in shares of Marqeta by 12.1% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 105,457 shares of the company's stock valued at $399,000 after acquiring an additional 11,356 shares in the last quarter. 78.64% of the stock is currently owned by hedge funds and other 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.