Monness Crespi & Hardt started coverage on shares of Marqeta (NASDAQ:MQ - Free Report) in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $7.50 target price on the stock.
Several other research firms have also weighed in on MQ. Keefe, Bruyette & Woods raised their price objective on shares of Marqeta from $7.00 to $8.00 and gave the company a market perform rating in a research report on Friday, March 1st. Wells Fargo & Company raised their price objective on shares of Marqeta from $6.00 to $7.00 and gave the company an equal weight rating in a research report on Tuesday, February 6th. 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. 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 report on Monday, February 12th. Finally, KeyCorp raised their price objective on shares of Marqeta from $7.00 to $8.00 and gave the stock an overweight rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $7.57.
Check Out Our Latest Analysis on Marqeta
Marqeta Price Performance
MQ stock traded up $0.33 on Tuesday, hitting $6.04. 6,104,942 shares of the company were exchanged, compared to its average volume of 5,311,361. Marqeta has a twelve month low of $3.74 and a twelve month high of $7.36. The business's fifty day moving average is $6.15 and its two-hundred day moving average is $6.10. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -13.59 and a beta of 1.84.
Marqeta (NASDAQ:MQ - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The company had revenue of $118.82 million during the quarter, compared to analyst estimates of $110.80 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The business's quarterly revenue was down 41.7% compared to the same quarter last year. Equities research analysts expect that Marqeta will post -0.35 earnings per share for the current year.
Institutional Investors Weigh In On Marqeta
A number of institutional investors and hedge funds have recently made changes to their positions in MQ. Vanguard Group Inc. raised its stake in Marqeta by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 45,793,157 shares of the company's stock valued at $319,636,000 after acquiring an additional 1,592,977 shares during the period. Capital Research Global Investors raised its stake in Marqeta by 349.7% in the 1st quarter. Capital Research Global Investors now owns 37,142,171 shares of the company's stock valued at $410,050,000 after acquiring an additional 28,882,196 shares during the period. BlackRock Inc. raised its stake in Marqeta by 2.4% in the 3rd quarter. BlackRock Inc. now owns 30,903,031 shares of the company's stock valued at $220,029,000 after acquiring an additional 735,035 shares during the period. FMR LLC raised its stake in Marqeta by 27.1% in the 3rd quarter. FMR LLC now owns 28,456,412 shares of the company's stock valued at $170,169,000 after acquiring an additional 6,058,777 shares during the period. Finally, Visa Inc. bought a new stake in Marqeta in the 1st quarter valued at $137,389,000. Institutional investors own 78.64% of the company's stock.
Marqeta Company Profile
(
Get Free Report)
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.
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