Marqeta, Inc. (NASDAQ:MQ) Receives Average Rating of “Buy” from Brokerages

Shares of Marqeta, Inc. (NASDAQ:MQGet Rating) have been assigned an average recommendation of “Buy” from the eighteen research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $20.47.

MQ has been the topic of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Marqeta from $17.00 to $13.00 and set a “market perform” rating on the stock in a research report on Thursday, March 10th. Morgan Stanley started coverage on Marqeta in a report on Monday, April 4th. They set an “equal weight” rating and a $15.00 price target on the stock. The Goldman Sachs Group assumed coverage on Marqeta in a research note on Tuesday, January 18th. They issued a “neutral” rating and a $18.00 price objective for the company. William Blair reissued an “outperform” rating on shares of Marqeta in a research note on Thursday, March 10th. Finally, Barclays upped their price target on Marqeta from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 6th.

NASDAQ MQ opened at $9.30 on Monday. The stock’s 50-day moving average price is $10.60 and its 200-day moving average price is $15.73. Marqeta has a 52 week low of $8.24 and a 52 week high of $37.90.

Marqeta (NASDAQ:MQGet Rating) last released its earnings results on Wednesday, March 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. Marqeta had a negative net margin of 31.70% and a negative return on equity of 14.51%. The company had revenue of $155.41 million during the quarter, compared to analyst estimates of $137.79 million. The firm’s quarterly revenue was up 76.2% compared to the same quarter last year. On average, equities analysts predict that Marqeta will post -0.37 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of MQ. Two Sigma Investments LP boosted its stake in shares of Marqeta by 52.7% during the third quarter. Two Sigma Investments LP now owns 100,951 shares of the company’s stock valued at $2,233,000 after purchasing an additional 34,846 shares during the period. North Star Investment Management Corp. purchased a new stake in Marqeta in the 4th quarter valued at about $105,000. Artisan Partners Limited Partnership bought a new position in Marqeta in the 3rd quarter worth about $35,961,000. Marshall Wace LLP increased its position in shares of Marqeta by 3,487.9% during the third quarter. Marshall Wace LLP now owns 275,479 shares of the company’s stock worth $6,094,000 after acquiring an additional 267,801 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Marqeta by 8.7% during the third quarter. Invesco Ltd. now owns 1,648,459 shares of the company’s stock valued at $36,464,000 after acquiring an additional 131,830 shares in the last quarter. Hedge funds and other institutional investors own 50.31% of the company’s stock.

Marqeta Company Profile (Get Rating)

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions.

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Analyst Recommendations for Marqeta (NASDAQ:MQ)

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