Marqeta, Inc. (NASDAQ:MQ) Receives Consensus Rating of “Hold” from Analysts

Marqeta, Inc. (NASDAQ:MQ) has received an average recommendation of “Hold” from the sixteen analysts that are covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $6.27.

A number of brokerages recently weighed in on MQ. KeyCorp cut Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Wells Fargo & Company cut Marqeta from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $7.00 to $5.00 in a research note on Tuesday, November 5th. Susquehanna decreased their price objective on Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered Marqeta from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $9.00 to $4.00 in a research report on Tuesday, November 5th. Finally, UBS Group decreased their price objective on Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

Institutional Trading of Marqeta

Hedge funds have recently made changes to their positions in the business. Primecap Management Co. CA increased its stake in Marqeta by 0.7% during the 3rd quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock worth $2,402,000 after acquiring an additional 3,627 shares during the period. Intech Investment Management LLC bought a new position in shares of Marqeta in the 3rd quarter valued at $431,000. MQS Management LLC bought a new position in shares of Marqeta in the 3rd quarter valued at $96,000. GSA Capital Partners LLP boosted its holdings in shares of Marqeta by 671.7% during the 3rd quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock valued at $1,153,000 after acquiring an additional 204,026 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in shares of Marqeta by 6.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 370,070 shares of the company’s stock valued at $1,821,000 after acquiring an additional 23,729 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Marqeta Stock Up 10.7 %

NASDAQ:MQ opened at $4.14 on Tuesday. The business’s 50-day moving average price is $4.99 and its 200 day moving average price is $5.24. The firm has a market cap of $2.10 billion, a P/E ratio of 207.00 and a beta of 1.73. Marqeta has a 52-week low of $3.37 and a 52-week high of $7.36.

Marqeta (NASDAQ:MQ) last released its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. Marqeta’s revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) earnings per share. Sell-side analysts expect 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.