Marqeta (NASDAQ:MQ) Shares Down 5% – What’s Next?

Marqeta, Inc. (NASDAQ:MQ)’s share price traded down 5% during trading on Friday . The stock traded as low as $3.97 and last traded at $3.89. 1,206,860 shares changed hands during trading, a decline of 81% from the average session volume of 6,205,535 shares. The stock had previously closed at $4.09.

Analysts Set New Price Targets

MQ has been the subject of a number of recent research reports. The Goldman Sachs Group dropped their target price on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Wells Fargo & Company decreased their price target on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a research note on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.29.

Marqeta Price Performance

The firm’s 50 day moving average price is $4.05 and its 200 day moving average price is $4.05. The stock has a market capitalization of $1.94 billion, a P/E ratio of 192.50 and a beta of 1.42.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $135.79 million for the quarter, compared to the consensus estimate of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. On average, equities research analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Institutional Trading of Marqeta

Several large investors have recently added to or reduced their stakes in MQ. Victory Capital Management Inc. lifted its position in shares of Marqeta by 28.6% in the 1st quarter. Victory Capital Management Inc. now owns 62,992 shares of the company’s stock worth $260,000 after purchasing an additional 13,992 shares during the period. Arizona State Retirement System lifted its holdings in Marqeta by 3.2% in the first quarter. Arizona State Retirement System now owns 120,131 shares of the company’s stock worth $495,000 after buying an additional 3,734 shares during the period. Penserra Capital Management LLC boosted its position in Marqeta by 13.5% during the 1st quarter. Penserra Capital Management LLC now owns 658,364 shares of the company’s stock valued at $2,712,000 after acquiring an additional 78,431 shares in the last quarter. ZWJ Investment Counsel Inc. grew its holdings in shares of Marqeta by 8.8% during the 1st quarter. ZWJ Investment Counsel Inc. now owns 1,880,554 shares of the company’s stock worth $7,748,000 after acquiring an additional 152,002 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in shares of Marqeta in the 1st quarter worth approximately $252,000. Institutional investors own 78.64% of the company’s stock.

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.