Marqeta Sees Unusually High Options Volume (NASDAQ:MQ)

Marqeta, Inc. (NASDAQ:MQGet Rating) saw unusually large options trading activity on Thursday. Stock traders acquired 13,745 call options on the stock. This is an increase of approximately 47% compared to the average volume of 9,364 call options.

Marqeta Stock Performance

NASDAQ:MQ opened at $10.96 on Friday. The company has a fifty day moving average of $9.53 and a two-hundred day moving average of $10.12. The stock has a market capitalization of $5.95 billion, a PE ratio of -19.93 and a beta of 2.59. Marqeta has a fifty-two week low of $6.05 and a fifty-two week high of $37.90.

Marqeta (NASDAQ:MQGet Rating) last released its earnings results on Wednesday, May 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Marqeta had a negative return on equity of 13.49% and a negative net margin of 36.80%. The business had revenue of $166.10 million for the quarter, compared to analysts’ expectations of $161.01 million. Research analysts forecast that Marqeta will post -0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler assumed coverage on shares of Marqeta in a research note on Thursday, April 14th. They set an “overweight” rating and a $13.00 price objective for the company. Credit Suisse Group initiated coverage on shares of Marqeta in a research note on Tuesday, May 3rd. They issued an “outperform” rating and a $13.50 target price for the company. Morgan Stanley upgraded shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research note on Tuesday, May 24th. UBS Group initiated coverage on shares of Marqeta in a research note on Tuesday, June 7th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Truist Financial decreased their target price on shares of Marqeta from $20.00 to $16.00 in a research note on Thursday, May 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.10.

Insiders Place Their Bets

In other Marqeta news, insider Seth R. Weissman sold 100,000 shares of Marqeta stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $9.50, for a total transaction of $950,000.00. Following the completion of the sale, the insider now directly owns 6,157 shares in the company, valued at approximately $58,491.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On Marqeta

Large investors have recently modified their holdings of the business. Aaron Wealth Advisors LLC purchased a new stake in shares of Marqeta during the first quarter worth $200,000. Bronson Point Management LLC purchased a new stake in shares of Marqeta during the fourth quarter worth $52,000. CWM LLC purchased a new stake in shares of Marqeta during the fourth quarter worth $54,000. Advisors Asset Management Inc. purchased a new stake in shares of Marqeta during the first quarter worth $38,000. Finally, FourThought Financial LLC purchased a new stake in shares of Marqeta in the first quarter valued at about $51,000. Hedge funds and other 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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