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

Marqeta (NASDAQ:MQGet Free Report) had its target price reduced by equities research analysts at Keefe, Bruyette & Woods from $7.00 to $6.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 9.49% from the company’s current price.

A number of other equities analysts also recently weighed in on MQ. William Blair reaffirmed an “outperform” rating on shares of Marqeta in a research report on Wednesday, May 8th. Wedbush reaffirmed a “neutral” rating and issued a $6.00 target price on shares of Marqeta in a research report on Wednesday, May 8th. Barclays reduced their price target on Marqeta from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. Mizuho cut their price target on shares of Marqeta from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. Finally, Wells Fargo & Company raised 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. 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.13.

Read Our Latest Research Report on Marqeta

Marqeta Trading Down 1.1 %

MQ stock opened at $5.48 on Monday. Marqeta has a 1-year low of $4.65 and a 1-year high of $7.36. The business’s 50-day moving average price is $5.44 and its two-hundred day moving average price is $5.89. The firm has a market cap of $2.84 billion, a PE ratio of -15.22 and a beta of 1.78.

Marqeta (NASDAQ:MQGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $117.90 million during the quarter, compared to analysts’ expectations of $117.05 million. Marqeta had a negative return on equity of 11.84% and a negative net margin of 32.98%. Marqeta’s revenue for the quarter was down 45.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.13) EPS. On average, analysts forecast that Marqeta will post 0.01 earnings per share for the current year.

Insider Buying and Selling at Marqeta

In related news, Director Martha Cummings sold 40,241 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 19,000 shares in the company, valued at $103,930. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 12.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank grew its stake in Marqeta by 27.8% during the first quarter. Comerica Bank now owns 1,007,954 shares of the company’s stock worth $6,007,000 after buying an additional 219,001 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Marqeta by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 285,379 shares of the company’s stock worth $1,702,000 after acquiring an additional 14,696 shares in the last quarter. Quadrature Capital Ltd bought a new position in Marqeta in the first quarter valued at approximately $250,000. Capital International Investors raised its position in Marqeta by 203.1% during the first quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock valued at $40,998,000 after purchasing an additional 4,609,526 shares in the last quarter. Finally, CreativeOne Wealth LLC bought a new stake in Marqeta during the first quarter worth $72,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

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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