Marqeta, Inc. (NASDAQ:MQ) Given Average Rating of “Moderate Buy” by Analysts

Shares of Marqeta, Inc. (NASDAQ:MQGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $7.58.

Several brokerages recently commented on MQ. KeyCorp raised their target price on Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, January 8th. Truist Financial restated a “buy” rating and set a $10.00 price objective (up from $9.00) on shares of Marqeta in a report on Thursday, February 29th. Barclays lifted their price objective on Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Keefe, Bruyette & Woods lifted their price objective on Marqeta from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Friday, March 1st. Finally, Bank of America upgraded Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Monday, February 12th.

View Our Latest Research Report on MQ

Marqeta Stock Up 2.8 %

MQ opened at $5.96 on Monday. The business’s fifty day simple moving average is $6.16 and its 200 day simple moving average is $6.10. Marqeta has a 52 week low of $3.74 and a 52 week high of $7.36. The firm has a market cap of $3.06 billion, a P/E ratio of -14.19 and a beta of 1.87.

Marqeta (NASDAQ:MQGet Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $118.82 million for the quarter, compared to analyst estimates of $110.80 million. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The firm’s quarterly revenue was down 41.7% on a year-over-year basis. During the same period last year, the company earned ($0.05) EPS. As a group, equities analysts expect that Marqeta will post -0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Marqeta

Several hedge funds and other institutional investors have recently made changes to their positions in MQ. Vanguard Group Inc. grew its stake in shares of Marqeta by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 45,793,157 shares of the company’s stock worth $319,636,000 after purchasing an additional 1,592,977 shares during the period. Virtu Financial LLC acquired a new stake in shares of Marqeta during the fourth quarter worth $194,000. Bullseye Asset Management LLC grew its stake in shares of Marqeta by 12.8% during the fourth quarter. Bullseye Asset Management LLC now owns 220,790 shares of the company’s stock worth $1,541,000 after purchasing an additional 25,000 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Marqeta by 7.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 270,683 shares of the company’s stock worth $1,890,000 after purchasing an additional 19,849 shares during the period. Finally, GSA Capital Partners LLP grew its stake in shares of Marqeta by 931.5% during the fourth quarter. GSA Capital Partners LLP now owns 252,193 shares of the company’s stock worth $1,760,000 after purchasing an additional 227,745 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

About Marqeta

(Get Free Report

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.

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Analyst Recommendations for Marqeta (NASDAQ:MQ)

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