Marqeta (NASDAQ:MQ) Price Target Raised to $4.50

Marqeta (NASDAQ:MQ) had its target price boosted by The Goldman Sachs Group from $4.00 to $4.50 in a research report released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other brokerages have also recently issued reports on MQ. Wells Fargo & Company decreased their price objective on Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Monness Crespi & Hardt cut Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut Marqeta from a “buy” rating to a “hold” rating and decreased their price objective for the company from $9.00 to $4.00 in a report 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 report on Tuesday, November 5th. Finally, Morgan Stanley decreased their price objective on Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.33.

Marqeta Price Performance

Marqeta stock opened at $4.18 on Thursday. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 209.00 and a beta of 1.52. Marqeta has a 1-year low of $3.37 and a 1-year high of $6.98. The business has a fifty day moving average price of $3.78 and a 200-day moving average price of $4.38.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company had revenue of $135.79 million during the quarter, compared to analysts’ expectations of $132.71 million. On average, equities research analysts anticipate that Marqeta will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marqeta

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Marqeta during the 4th quarter worth approximately $72,879,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Marqeta by 5,396.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company’s stock worth $68,862,000 after acquiring an additional 17,838,535 shares in the last quarter. RPD Fund Management LLC purchased a new stake in shares of Marqeta during the 4th quarter worth approximately $37,289,000. Wellington Management Group LLP purchased a new stake in shares of Marqeta during the 4th quarter worth approximately $19,717,000. Finally, North Reef Capital Management LP raised its position 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 purchasing an additional 3,886,999 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Company Profile

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.