Marqeta, Inc. (NASDAQ:MQ - Get Free Report)'s share price rose 4.8% on Thursday . The stock traded as high as $5.73 and last traded at $5.65. Approximately 3,457,641 shares traded hands during trading, a decline of 33% from the average daily volume of 5,182,288 shares. The stock had previously closed at $5.39.
Wall Street Analyst Weigh In
MQ has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Marqeta from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 6th. 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 report on Monday, February 12th. Truist Financial restated a "buy" rating and set a $10.00 price objective (up from $9.00) on shares of Marqeta in a research report on Thursday, February 29th. Monness Crespi & Hardt started coverage on shares of Marqeta in a research report on Tuesday, April 2nd. They set a "buy" rating and a $7.50 price objective on the stock. Finally, KeyCorp 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 Monday, January 8th. One equities 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 stock. Based on data from MarketBeat.com, Marqeta has a consensus rating of "Moderate Buy" and a consensus target price of $7.57.
Read Our Latest Analysis on MQ
Marqeta Stock Performance
The business's fifty day moving average price is $6.06 and its two-hundred day moving average price is $6.07. The stock has a market capitalization of $2.81 billion, a P/E ratio of -13.02 and a beta of 1.84.
Marqeta (NASDAQ:MQ - Get Free Report) last posted its earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $118.82 million for the quarter, compared to the consensus estimate of $110.80 million. During the same period in the previous year, the firm posted ($0.05) EPS. The business's quarterly revenue was down 41.7% on a year-over-year basis. As a group, analysts forecast that Marqeta, Inc. will post -0.35 earnings per share for the current year.
Hedge Funds Weigh In On Marqeta
Several hedge funds have recently added to or reduced their stakes in the company. Avior Wealth Management LLC grew its holdings in Marqeta by 8.8% during the 4th quarter. Avior Wealth Management LLC now owns 21,253 shares of the company's stock valued at $148,000 after purchasing an additional 1,719 shares during the last quarter. Aigen Investment Management LP grew its stake in Marqeta by 6.7% in the 3rd quarter. Aigen Investment Management LP now owns 28,095 shares of the company's stock worth $168,000 after acquiring an additional 1,763 shares in the last quarter. Captrust Financial Advisors grew its stake in Marqeta by 39.6% in the 2nd quarter. Captrust Financial Advisors now owns 6,686 shares of the company's stock worth $54,000 after acquiring an additional 1,896 shares in the last quarter. Arizona State Retirement System grew its stake in Marqeta by 1.8% in the 3rd quarter. Arizona State Retirement System now owns 110,657 shares of the company's stock worth $662,000 after acquiring an additional 1,957 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its stake in Marqeta by 14.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 17,700 shares of the company's stock worth $106,000 after acquiring an additional 2,300 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.
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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