Marqeta (NASDAQ:MQ - Get Free Report) had its price target boosted by stock analysts at UBS Group from $5.00 to $5.75 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's target price points to a potential downside of 11.33% from the stock's current price.
A number of other research analysts also recently issued reports on MQ. Deutsche Bank Aktiengesellschaft started coverage on shares of Marqeta in a research report on Thursday, July 17th. They set a "hold" rating and a $6.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of Marqeta from a "neutral" rating to an "overweight" rating and upped their target price for the company from $5.00 to $6.00 in a research report on Monday, May 19th. Barclays upped their target price on shares of Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Finally, Keefe, Bruyette & Woods upped their price target on Marqeta from $4.50 to $6.50 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $5.61.
Read Our Latest Research Report on MQ
Marqeta Trading Up 14.2%
NASDAQ MQ traded up $0.81 during trading on Thursday, reaching $6.49. 11,134,095 shares of the company's stock were exchanged, compared to its average volume of 6,670,046. The firm has a market capitalization of $3.04 billion, a PE ratio of 64.85 and a beta of 1.54. The company's fifty day simple moving average is $5.68 and its 200-day simple moving average is $4.66. Marqeta has a fifty-two week low of $3.37 and a fifty-two week high of $6.84.
Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. Marqeta had a net margin of 10.43% and a return on equity of 5.11%. The company had revenue of $139.07 million for the quarter, compared to analyst estimates of $135.66 million. During the same quarter in the prior year, the business posted ($0.07) EPS. Marqeta's quarterly revenue was up 17.9% on a year-over-year basis. Equities analysts forecast that Marqeta will post 0.06 EPS for the current fiscal year.
Hedge Funds Weigh In On Marqeta
A number of institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in Marqeta by 126.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,097,173 shares of the company's stock worth $169,322,000 after buying an additional 22,928,070 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Marqeta by 3.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 19,860,183 shares of the company's stock valued at $81,824,000 after purchasing an additional 631,132 shares during the period. Geode Capital Management LLC grew its stake in Marqeta by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company's stock valued at $41,819,000 after purchasing an additional 318,184 shares during the period. RPD Fund Management LLC bought a new position in shares of Marqeta during the 4th quarter worth $37,289,000. Finally, North Reef Capital Management LP grew its stake in shares of Marqeta by 99.7% during the 4th quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company's stock worth $29,513,000 after acquiring an additional 3,886,999 shares during the period. 78.64% of the stock is 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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