Marqeta, Inc. (NASDAQ:MQ - Get Free Report)'s share price rose 3% on Tuesday . The company traded as high as $5.88 and last traded at $5.88. Approximately 1,394,453 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 5,236,215 shares. The stock had previously closed at $5.71.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on MQ shares. Keefe, Bruyette & Woods raised their target price on shares of Marqeta from $7.00 to $8.00 and gave the stock a "market perform" rating in a research report on Friday, March 1st. Barclays increased their price objective on shares of Marqeta from $7.00 to $8.00 and gave the company an "overweight" rating in a research note on Tuesday, January 16th. Bank of America upgraded shares of Marqeta from a "neutral" rating to a "buy" rating and set a $7.00 price objective on the stock in a research note on Monday, February 12th. Wells Fargo & Company raised their target price on shares of Marqeta from $6.00 to $7.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 6th. Finally, KeyCorp raised their target price on shares of Marqeta from $7.00 to $8.00 and gave the company an "overweight" rating in a research note on Monday, January 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $7.57.
Read Our Latest Report on MQ
Marqeta Price Performance
The firm has a market cap of $3.10 billion, a PE ratio of -13.59 and a beta of 1.84. The business's 50 day moving average price is $6.15 and its 200 day moving average price is $6.10.
Marqeta (NASDAQ:MQ - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. The business had revenue of $118.82 million during the quarter, compared to analysts' expectations of $110.80 million. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The company's quarterly revenue was down 41.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) earnings per share. As a group, analysts predict that Marqeta, Inc. will post -0.35 earnings per share for the current year.
Hedge Funds Weigh In On Marqeta
A number of institutional investors and hedge funds have recently bought and sold shares of MQ. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 1,592,977 shares during the last quarter. Virtu Financial LLC acquired a new position in Marqeta in the 4th quarter valued at about $194,000. Bullseye Asset Management LLC boosted its holdings in Marqeta by 12.8% in the 4th quarter. Bullseye Asset Management LLC now owns 220,790 shares of the company's stock valued at $1,541,000 after purchasing an additional 25,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Marqeta by 7.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 270,683 shares of the company's stock valued at $1,890,000 after acquiring an additional 19,849 shares during the period. Finally, GSA Capital Partners LLP raised its stake in shares of Marqeta by 931.5% in the 4th quarter. GSA Capital Partners LLP now owns 252,193 shares of the company's stock valued at $1,760,000 after acquiring an additional 227,745 shares during the period. 78.64% of the stock is currently owned by institutional investors and hedge funds.
About Marqeta
(
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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