Credit Suisse Group Begins Coverage on Marqeta (NASDAQ:MQ)

Credit Suisse Group assumed coverage on shares of Marqeta (NASDAQ:MQGet Rating) in a research report report published on Tuesday morning, The Fly reports. The brokerage issued an outperform rating on the stock.

A number of other research firms also recently commented on MQ. Mizuho raised Marqeta from a neutral rating to a buy rating and dropped their price target for the company from $27.00 to $20.00 in a research note on Thursday, January 13th. Keefe, Bruyette & Woods dropped their price target on Marqeta from $17.00 to $13.00 and set a market perform rating for the company in a research note on Thursday, March 10th. JPMorgan Chase & Co. dropped their price target on Marqeta from $33.00 to $22.00 and set an overweight rating for the company in a research note on Thursday, March 10th. KeyCorp dropped their price target on Marqeta from $25.00 to $20.00 and set an overweight rating for the company in a research note on Thursday, March 10th. Finally, Piper Sandler started coverage on Marqeta in a research note on Thursday, April 14th. They issued an overweight rating and a $13.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Marqeta presently has an average rating of Buy and an average price target of $20.38.

MQ opened at $9.29 on Tuesday. Marqeta has a fifty-two week low of $8.24 and a fifty-two week high of $37.90. The stock has a fifty day moving average of $10.62 and a 200-day moving average of $15.60.

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

Several large investors have recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC lifted its stake in shares of Marqeta by 48.2% in the first quarter. Mount Yale Investment Advisors LLC now owns 27,320 shares of the company’s stock worth $302,000 after acquiring an additional 8,880 shares during the period. FourThought Financial LLC acquired a new position in shares of Marqeta in the first quarter worth approximately $51,000. Full18 Capital LLC acquired a new position in shares of Marqeta in the first quarter worth approximately $1,096,000. Malaga Cove Capital LLC lifted its stake in Marqeta by 11.1% in the first quarter. Malaga Cove Capital LLC now owns 17,041 shares of the company’s stock valued at $188,000 after buying an additional 1,700 shares during the period. Finally, Ahrens Investment Partners LLC lifted its stake in Marqeta by 536.1% in the first quarter. Ahrens Investment Partners LLC now owns 5,725 shares of the company’s stock valued at $63,000 after buying an additional 4,825 shares during the period. Institutional investors own 50.31% of the company’s stock.

About Marqeta (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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