Wedbush Reiterates Neutral Rating for Marqeta (NASDAQ:MQ)

Marqeta (NASDAQ:MQ - Get Free Report)'s stock had its "neutral" rating restated by analysts at Wedbush in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $6.00 target price on the stock. Wedbush's target price points to a potential upside of 2.74% from the stock's current price.

Other equities research analysts also recently issued reports about the stock. Barclays raised their price target 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. Keefe, Bruyette & Woods upped their price objective on shares of 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 set a $10.00 price objective (up previously from $9.00) on shares of Marqeta in a report on Thursday, February 29th. 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 report on Monday, February 12th. Finally, Wells Fargo & Company lifted their price target on Marqeta from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Marqeta has an average rating of "Moderate Buy" and an average price target of $7.50.

Marqeta Trading Up 0.2 %

Shares of MQ traded up $0.01 during mid-day trading on Wednesday, reaching $5.84. The company's stock had a trading volume of 11,119,572 shares, compared to its average volume of 5,122,880. The stock has a market cap of $3.00 billion, a P/E ratio of -13.45 and a beta of 1.81. Marqeta has a 1-year low of $4.07 and a 1-year high of $7.36. The business has a 50-day simple moving average of $5.84 and a two-hundred day simple moving average of $6.06.

Marqeta (NASDAQ:MQ - Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) 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 $117.90 million for the quarter, compared to analysts' expectations of $117.05 million. During the same period in the prior year, the firm earned ($0.13) EPS. The business's revenue was down 45.8% on a year-over-year basis. Research analysts anticipate that Marqeta will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its stake in Marqeta by 8.8% during the fourth quarter. Avior Wealth Management LLC now owns 21,253 shares of the company's stock worth $148,000 after purchasing an additional 1,719 shares in the last quarter. Aigen Investment Management LP increased its stake in Marqeta by 6.7% during the third quarter. Aigen Investment Management LP now owns 28,095 shares of the company's stock worth $168,000 after purchasing an additional 1,763 shares during the period. Arizona State Retirement System lifted its position in shares of Marqeta by 1.8% during the third quarter. Arizona State Retirement System now owns 110,657 shares of the company's stock worth $662,000 after purchasing an additional 1,957 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Marqeta by 4.9% in the third quarter. Amalgamated Bank now owns 51,433 shares of the company's stock valued at $308,000 after purchasing an additional 2,395 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Marqeta by 20.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 19,144 shares of the company's stock worth $114,000 after buying an additional 3,310 shares in the last quarter. Hedge funds and other institutional investors 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.