Marqeta (NASDAQ:MQ - Free Report) had its price objective increased by UBS Group from $5.00 to $5.75 in a research report report published on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the stock.
Other research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Marqeta in a research note on Thursday, July 17th. They set a "hold" rating and a $6.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Marqeta from $4.50 to $6.50 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Barclays lifted their price target on shares of Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. raised shares of Marqeta from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $5.00 to $6.00 in a research note on Monday, May 19th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $6.11.
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Marqeta Stock Performance
MQ traded down $0.14 on Thursday, reaching $6.38. The company had a trading volume of 5,474,045 shares, compared to its average volume of 5,291,775. The business has a 50 day simple moving average of $5.76 and a 200 day simple moving average of $4.73. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -49.08 and a beta of 1.54. Marqeta has a 52-week low of $3.37 and a 52-week high of $7.04.
Insider Activity
In other news, Director Jason M. Gardner sold 2,250,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $6.63, for a total value of $14,917,500.00. Following the transaction, the director owned 15,399,000 shares in the company, valued at approximately $102,095,370. This trade represents a 12.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.61% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Marqeta in the fourth quarter valued at $288,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Marqeta by 44.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 67,579 shares of the company's stock valued at $287,000 after buying an additional 20,909 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Marqeta during the 4th quarter valued at $1,520,000. Northern Trust Corp boosted its holdings in shares of Marqeta by 3.9% during the 4th quarter. Northern Trust Corp now owns 4,301,993 shares of the company's stock valued at $16,305,000 after buying an additional 161,968 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. bought a new stake in shares of Marqeta during the 4th quarter valued at $778,000. Institutional investors own 78.64% of the company's stock.
About Marqeta
(
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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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