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

Marqeta, Inc. (NASDAQ:MQ) has been given a consensus recommendation of “Hold” by the fifteen ratings firms that are covering the stock, Marketbeat reports. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $5.65.

Several brokerages have recently commented on MQ. JPMorgan Chase & Co. lowered their price target on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company dropped their target price on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Morgan Stanley dropped 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. The Goldman Sachs Group lowered their price target on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Finally, Susquehanna lowered their target price on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a research note on Tuesday, November 5th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in Marqeta during the fourth quarter worth approximately $33,000. Blueshift Asset Management LLC acquired a new position in shares of Marqeta in the fourth quarter valued at $38,000. Covestor Ltd raised its position in shares of Marqeta by 1,255.4% in the fourth quarter. Covestor Ltd now owns 10,030 shares of the company’s stock valued at $38,000 after purchasing an additional 9,290 shares during the period. Bank of Montreal Can lifted its stake in shares of Marqeta by 125.6% during the 4th quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock worth $38,000 after buying an additional 49,243 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in shares of Marqeta during the 4th quarter worth about $41,000. Institutional investors own 78.64% of the company’s stock.

Marqeta Price Performance

Shares of Marqeta stock opened at $3.84 on Thursday. The firm has a 50 day simple moving average of $3.78 and a 200 day simple moving average of $4.44. Marqeta has a fifty-two week low of $3.37 and a fifty-two week high of $7.36. The firm has a market cap of $1.93 billion, a P/E ratio of 192.00 and a beta of 1.52.

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.