Marqeta (NASDAQ:MQ) PT Lowered to $7.00

Marqeta (NASDAQ:MQ - Free Report) had its price target decreased by Barclays from $8.00 to $7.00 in a report published on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on the company. William Blair reissued an outperform rating on shares of Marqeta in a report on Wednesday. Keefe, Bruyette & Woods increased their price objective on Marqeta from $7.00 to $8.00 and gave the company a market perform rating in a report on Friday, March 1st. Truist Financial reissued a buy rating and issued a $10.00 price objective (up previously from $9.00) on shares of Marqeta in a report on Thursday, February 29th. Wedbush reaffirmed a neutral rating and set a $6.00 price target on shares of Marqeta in a report on Wednesday. Finally, Monness Crespi & Hardt raised their price target on Marqeta from $7.50 to $8.00 and gave the company a buy rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $7.43.

Marqeta Price Performance

Shares of MQ traded up $0.06 during mid-day trading on Thursday, hitting $5.90. 6,816,938 shares of the company's stock were exchanged, compared to its average volume of 5,139,853. The company has a market cap of $3.03 billion, a PE ratio of -13.52 and a beta of 1.81. Marqeta has a 52 week low of $4.07 and a 52 week high of $7.36. The company has a 50-day simple moving average of $5.81 and a 200 day simple moving average of $6.06.

Marqeta (NASDAQ:MQ - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. The company had revenue of $117.90 million during the quarter, compared to the consensus estimate of $117.05 million. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The firm'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 firm posted ($0.13) EPS. On average, analysts anticipate that Marqeta will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Marqeta

A number of hedge funds and other institutional investors have recently modified their holdings of MQ. Vanguard Group Inc. increased its position in shares of Marqeta by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 45,793,157 shares of the company's stock worth $319,636,000 after purchasing an additional 1,592,977 shares during the period. FMR LLC increased its position in shares of Marqeta by 27.1% in the third quarter. FMR LLC now owns 28,456,412 shares of the company's stock worth $170,169,000 after purchasing an additional 6,058,777 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Marqeta by 16.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,305,306 shares of the company's stock worth $44,015,000 after purchasing an additional 900,675 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Marqeta by 14.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 5,814,628 shares of the company's stock worth $40,586,000 after purchasing an additional 739,871 shares during the period. Finally, Alkeon Capital Management LLC increased its position in shares of Marqeta by 94.2% in the third quarter. Alkeon Capital Management LLC now owns 5,155,103 shares of the company's stock worth $30,828,000 after purchasing an additional 2,500,000 shares during the period. Institutional investors and hedge funds 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.