Keefe, Bruyette & Woods Cuts Marqeta (NASDAQ:MQ) Price Target to $6.00

Marqeta (NASDAQ:MQGet Free Report) had its target price decreased by investment analysts at Keefe, Bruyette & Woods from $7.00 to $6.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 9.49% from the company’s previous close.

Several other equities research analysts have also weighed in on MQ. Wells Fargo & Company upgraded Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price target on the stock in a research report on Tuesday, June 25th. Monness Crespi & Hardt lifted their price target on Marqeta from $7.50 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Wedbush restated a “neutral” rating and set a $6.00 price target on shares of Marqeta in a research report on Wednesday, May 8th. William Blair restated an “outperform” rating on shares of Marqeta in a research report on Wednesday, May 8th. Finally, Mizuho lowered their price objective on Marqeta from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Marqeta currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.13.

Get Our Latest Stock Analysis on MQ

Marqeta Stock Performance

Shares of MQ stock opened at $5.48 on Monday. The firm has a market cap of $2.84 billion, a P/E ratio of -15.22 and a beta of 1.78. Marqeta has a fifty-two week low of $4.65 and a fifty-two week high of $7.36. The business’s 50 day moving average price is $5.44 and its 200-day moving average price is $5.89.

Marqeta (NASDAQ:MQGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. Marqeta had a negative return on equity of 11.84% and a negative net margin of 32.98%. The company had revenue of $117.90 million for the quarter, compared to analyst estimates of $117.05 million. During the same period in the previous year, the company posted ($0.13) earnings per share. The firm’s revenue was down 45.8% on a year-over-year basis. As a group, equities analysts predict that Marqeta will post 0.01 EPS for the current year.

Insider Transactions at Marqeta

In other news, Director Martha Cummings sold 40,241 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $5.47, for a total value of $220,118.27. Following the completion of the transaction, the director now owns 19,000 shares in the company, valued at $103,930. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.12% of the company’s stock.

Institutional Trading of Marqeta

Hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in Marqeta during the fourth quarter valued at $27,739,000. Dimensional Fund Advisors LP grew its holdings in Marqeta by 16.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,305,306 shares of the company’s stock valued at $44,015,000 after purchasing an additional 900,675 shares during the period. One Fin Capital Management LP grew its holdings in Marqeta by 10.0% during the fourth quarter. One Fin Capital Management LP now owns 2,200,000 shares of the company’s stock valued at $15,356,000 after purchasing an additional 200,000 shares during the period. Gillson Capital LP bought a new stake in Marqeta during the fourth quarter valued at about $8,254,000. Finally, Capital International Investors bought a new stake in Marqeta during the fourth quarter valued at about $15,840,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Company Profile

(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.

See Also

Analyst Recommendations for Marqeta (NASDAQ:MQ)

Receive News & Ratings for Marqeta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marqeta and related companies with MarketBeat.com's FREE daily email newsletter.