Marqeta (NASDAQ:MQ) Stock Price Down 4.8%

Marqeta, Inc. (NASDAQ:MQ - Get Free Report) shares fell 4.8% on Friday . The company traded as low as $5.43 and last traded at $5.51. 2,003,558 shares changed hands during trading, a decline of 61% from the average session volume of 5,165,874 shares. The stock had previously closed at $5.79.

Analysts Set New Price Targets

Several research firms have recently commented on MQ. Bank of America raised shares of Marqeta from a "neutral" rating to a "buy" rating and set a $7.00 price target for the company in a report on Monday, February 12th. Monness Crespi & Hardt began coverage on shares of Marqeta in a research report on Tuesday, April 2nd. They issued a "buy" rating and a $7.50 price objective on the stock. KeyCorp lifted 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. Wells Fargo & Company lifted 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. Finally, Barclays lifted 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $7.57.

Marqeta Stock Down 6.0 %

The firm's 50-day moving average price is $6.11 and its two-hundred day moving average price is $6.09. The firm has a market capitalization of $2.80 billion, a PE ratio of -13.02 and a beta of 1.84.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, beating 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) earnings per share. The firm's revenue was down 41.7% on a year-over-year basis. Equities research analysts forecast that Marqeta, Inc. will post -0.35 EPS for the current year.

Institutional Trading of Marqeta

Several large investors have recently added to or reduced their stakes in the business. Sanders Morris Harris LLC bought a new stake in Marqeta in the first quarter worth approximately $328,000. Renaissance Capital LLC lifted its stake in shares of Marqeta by 1.2% in the first quarter. Renaissance Capital LLC now owns 307,662 shares of the company's stock worth $1,834,000 after buying an additional 3,523 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 buying an additional 1,592,977 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Marqeta in the fourth quarter worth $194,000. Finally, Bullseye Asset Management LLC lifted its stake in shares of Marqeta by 12.8% in the fourth quarter. Bullseye Asset Management LLC now owns 220,790 shares of the company's stock worth $1,541,000 after buying an additional 25,000 shares during the last quarter. 78.64% of the stock is owned by institutional investors.

About Marqeta

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.