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

Shares of Marqeta, Inc. (NASDAQ:MQ) have received an average recommendation of “Hold” from the sixteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $5.75.

MQ has been the topic of several recent research reports. KeyCorp cut Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Morgan Stanley dropped their price objective on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Barclays restated an “equal weight” rating and set a $4.00 target price (down previously from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. William Blair downgraded shares of Marqeta from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded Marqeta from a “buy” rating to a “hold” rating and reduced their price target for the stock from $9.00 to $4.00 in a research report on Tuesday, November 5th.

Hedge Funds Weigh In On Marqeta

A number of large investors have recently modified their holdings of the company. Alkeon Capital Management LLC increased its stake in shares of Marqeta by 31.3% during the third quarter. Alkeon Capital Management LLC now owns 7,420,663 shares of the company’s stock valued at $36,510,000 after buying an additional 1,767,845 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Marqeta by 263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company’s stock valued at $6,499,000 after buying an additional 956,992 shares during the period. Barclays PLC grew its position in Marqeta by 226.4% during the third quarter. Barclays PLC now owns 861,414 shares of the company’s stock valued at $4,238,000 after buying an additional 597,539 shares during the period. Nordea Investment Management AB lifted its position in shares of Marqeta by 107.8% during the 4th quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock valued at $3,265,000 after buying an additional 441,617 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Marqeta by 5.5% during the second 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 period. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Stock Performance

NASDAQ MQ opened at $3.77 on Friday. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 188.50 and a beta of 1.52. Marqeta has a 52-week low of $3.37 and a 52-week high of $7.36. The business has a 50 day simple moving average of $3.83 and a 200 day simple moving average of $4.64.

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