Marqeta, Inc. (NASDAQ:MQ) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Marqeta, Inc. (NASDAQ:MQ) have earned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $7.57.

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Marqeta from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Friday, March 1st. Truist Financial restated a “buy” rating and set a $10.00 target price (up previously from $9.00) on shares of Marqeta in a report on Thursday, February 29th. Bank of America upgraded shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a report on Monday, February 12th. Monness Crespi & Hardt began coverage on shares of Marqeta in a report on Tuesday, April 2nd. They set a “buy” rating and a $7.50 target price for the company. Finally, KeyCorp increased their price target on shares of Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, January 8th.

Institutional Trading of Marqeta

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Marqeta by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 45,793,157 shares of the company’s stock worth $319,636,000 after buying an additional 1,592,977 shares during the last quarter. FMR LLC increased its position in Marqeta by 27.1% during the third quarter. FMR LLC now owns 28,456,412 shares of the company’s stock worth $170,169,000 after acquiring an additional 6,058,777 shares during the period. Dimensional Fund Advisors LP increased its position in Marqeta by 16.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,305,306 shares of the company’s stock worth $44,015,000 after acquiring an additional 900,675 shares during the period. Westfield Capital Management Co. LP increased its position in Marqeta by 14.6% during the fourth quarter. Westfield Capital Management Co. LP now owns 5,814,628 shares of the company’s stock worth $40,586,000 after acquiring an additional 739,871 shares during the period. Finally, Alkeon Capital Management LLC increased its position in Marqeta by 94.2% during the third quarter. Alkeon Capital Management LLC now owns 5,155,103 shares of the company’s stock worth $30,828,000 after acquiring an additional 2,500,000 shares during the period. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Stock Down 2.7 %

Shares of MQ stock opened at $5.36 on Friday. The firm has a fifty day moving average of $6.00 and a 200-day moving average of $6.06. Marqeta has a 12-month low of $3.74 and a 12-month high of $7.36. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -12.76 and a beta of 1.84.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The company had revenue of $118.82 million during the quarter, compared to the consensus estimate of $110.80 million. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. The firm’s revenue was down 41.7% compared to the same quarter last year. On average, equities analysts expect that Marqeta will post -0.35 EPS for the current year.

About Marqeta

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.