Marqeta, Inc. (NASDAQ:MQ) Given Consensus Recommendation of “Moderate Buy” by Analysts

Marqeta, Inc. (NASDAQ:MQ) has received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $7.11.

A number of equities analysts have recently weighed in on MQ shares. UBS Group cut their target price on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. The Goldman Sachs Group reissued a “neutral” rating and issued a $5.50 price objective on shares of Marqeta in a research report on Monday, June 24th. Susquehanna reaffirmed a “positive” rating and set a $9.00 target price on shares of Marqeta in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods cut their price target on shares of Marqeta from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Marqeta from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, August 8th.

Insider Buying and Selling at Marqeta

In related news, Director Martha Cummings sold 40,241 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $5.47, for a total value of $220,118.27. Following the sale, the director now directly owns 19,000 shares of the company’s stock, valued at $103,930. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.12% of the company’s stock.

Institutional Trading of Marqeta

A number of hedge funds have recently bought and sold shares of MQ. Vanguard Group Inc. raised its position in Marqeta by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock worth $282,717,000 after purchasing an additional 1,642,621 shares during the period. Visa Foundation purchased a new position in shares of Marqeta in the second quarter worth about $68,197,000. Dimensional Fund Advisors LP lifted its stake in shares of Marqeta by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock valued at $40,759,000 after acquiring an additional 389,045 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Marqeta by 27.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock valued at $44,216,000 after acquiring an additional 1,604,223 shares during the period. Finally, Capital International Investors grew its position in Marqeta by 203.1% during the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock worth $40,998,000 after acquiring an additional 4,609,526 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

Marqeta Trading Down 0.6 %

NASDAQ MQ opened at $5.15 on Monday. The company has a fifty day simple moving average of $5.22 and a 200 day simple moving average of $5.46. Marqeta has a 12-month low of $4.40 and a 12-month high of $7.36. The company has a market cap of $2.67 billion, a P/E ratio of -14.31 and a beta of 1.78.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The firm had revenue of $125.30 million during the quarter, compared to analyst estimates of $121.87 million. During the same period in the previous year, the company posted ($0.07) EPS. The company’s revenue for the quarter was down 45.8% on a year-over-year basis. Sell-side analysts predict that Marqeta will post 0.06 EPS for the current year.

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.