Marqeta, Inc. (NASDAQ:MQ - Get Free Report) saw strong trading volume on Thursday . 5,125,191 shares changed hands during mid-day trading, a decline of 3% from the previous session's volume of 5,270,394 shares.The stock last traded at $6.04 and had previously closed at $6.02.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on MQ shares. KeyCorp increased their target price on Marqeta from $7.00 to $8.00 and gave the company an "overweight" rating in a research report on Monday, January 8th. Truist Financial reaffirmed a "buy" rating and set a $10.00 price objective (up from $9.00) on shares of Marqeta in a report on Thursday, February 29th. Monness Crespi & Hardt assumed coverage on shares of Marqeta in a research note on Tuesday. They set a "buy" rating and a $7.50 target price for the company. Barclays upped their price target on shares of Marqeta from $7.00 to $8.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 16th. Finally, Wells Fargo & Company lifted their price objective on Marqeta from $6.00 to $7.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Marqeta currently has an average rating of "Moderate Buy" and a consensus price target of $7.57.
Check Out Our Latest Stock Report on Marqeta
Marqeta Stock Down 2.3 %
The stock has a market cap of $3.02 billion, a PE ratio of -14.26 and a beta of 1.84. The stock has a 50-day moving average of $6.14 and a 200 day moving average of $6.09.
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, topping analysts' consensus estimates of ($0.09) by $0.01. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The firm had revenue of $118.82 million for the quarter, compared to the consensus estimate of $110.80 million. During the same quarter last year, the business posted ($0.05) earnings per share. The firm's revenue was down 41.7% compared to the same quarter last year. Research analysts forecast that Marqeta, Inc. will post -0.35 EPS for the current fiscal year.
Hedge Funds Weigh In On Marqeta
Institutional investors have recently added to or reduced their stakes in the stock. Alkeon Capital Management LLC raised its holdings in shares of Marqeta by 94.2% in the 3rd quarter. Alkeon Capital Management LLC now owns 5,155,103 shares of the company's stock valued at $30,828,000 after buying an additional 2,500,000 shares during the period. FMR LLC boosted its position in shares of Marqeta by 27.1% during the 3rd quarter. FMR LLC now owns 28,456,412 shares of the company's stock worth $170,169,000 after acquiring an additional 6,058,777 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its position in shares of Marqeta by 374.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 633,682 shares of the company's stock worth $3,789,000 after acquiring an additional 500,182 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new stake in shares of Marqeta in the 4th quarter valued at about $233,000. Finally, Mariner LLC lifted its holdings in shares of Marqeta by 3.9% in the 3rd quarter. Mariner LLC now owns 91,696 shares of the company's stock valued at $548,000 after purchasing an additional 3,461 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company's stock.
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.
Featured Stories
Before you consider Marqeta, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Marqeta wasn't on the list.
While Marqeta currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
