Marqeta (NASDAQ:MQ) PT Raised to $8.00 at Monness Crespi & Hardt

Marqeta (NASDAQ:MQ - Get Free Report) had its target price lifted by equities research analysts at Monness Crespi & Hardt from $7.50 to $8.00 in a report released on Wednesday, MarketBeat reports. The firm currently has a "buy" rating on the stock. Monness Crespi & Hardt's price objective suggests a potential upside of 36.99% from the stock's current price.

Several other equities analysts have also recently weighed in on MQ. Wells Fargo & Company lifted their price objective on shares of Marqeta from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 6th. Keefe, Bruyette & Woods raised their price objective on shares of Marqeta from $7.00 to $8.00 and gave the stock a "market perform" rating in a research note on Friday, March 1st. Truist Financial restated a "buy" rating and issued a $10.00 target price (up from $9.00) on shares of Marqeta in a research note on Thursday, February 29th. Barclays raised their price objective on shares of Marqeta from $7.00 to $8.00 and gave the company an "overweight" rating in a research report on Tuesday, January 16th. Finally, Bank of America raised shares of Marqeta from a "neutral" rating to a "buy" rating and set a $7.00 price target on the stock in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Marqeta presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.50.

Marqeta Stock Up 0.2 %

Shares of Marqeta stock traded up $0.01 on Wednesday, hitting $5.84. 11,119,572 shares of the company's stock traded hands, compared to its average volume of 5,122,880. The stock has a market cap of $3.00 billion, a P/E ratio of -13.45 and a beta of 1.81. Marqeta has a 52-week low of $4.07 and a 52-week high of $7.36. The firm's 50-day moving average is $5.84 and its 200 day moving average is $6.06.

Marqeta (NASDAQ:MQ - Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. The company had revenue of $117.90 million during the quarter, compared to analysts' expectations of $117.05 million. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The company's revenue for the quarter was down 45.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.13) earnings per share. Equities research analysts forecast that Marqeta will post -0.35 EPS for the current year.

Institutional Trading of Marqeta

Large investors have recently made changes to their positions in the company. SVB Wealth LLC bought a new position in Marqeta in the 4th quarter valued at about $70,000. Russell Investments Group Ltd. lifted its holdings in shares of Marqeta by 7,852.8% during the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company's stock worth $60,000 after buying an additional 9,973 shares in the last quarter. Profund Advisors LLC acquired a new position in shares of Marqeta in the third quarter valued at about $62,000. Empowered Funds LLC acquired a new stake in Marqeta in the 1st quarter worth about $65,000. Finally, Horizon Family Wealth Inc. bought a new stake in Marqeta in the 3rd quarter valued at about $73,000. Institutional investors own 78.64% of the company's stock.

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.