UBS Group Raises Marqeta (NASDAQ:MQ) Price Target to $5.00

Marqeta (NASDAQ:MQ) had its target price increased by UBS Group from $4.75 to $5.00 in a research note issued on Thursday, Marketbeat Ratings reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 8.70% from the company’s current price.

MQ has been the topic of several other research reports. Keefe, Bruyette & Woods lifted their target price on Marqeta from $4.00 to $4.50 and gave the company a “market perform” rating in a research note on Thursday. The Goldman Sachs Group cut their price objective on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company decreased their target price on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Marqeta has a consensus rating of “Hold” and a consensus price target of $5.00.

Marqeta Stock Performance

Shares of MQ opened at $4.60 on Thursday. The firm has a fifty day moving average of $4.07 and a 200-day moving average of $4.02. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 230.00 and a beta of 1.41. Marqeta has a 1 year low of $3.37 and a 1 year high of $6.01.

Marqeta (NASDAQ:MQ) last posted its earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $139.07 million during the quarter, compared to analyst estimates of $135.66 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. Marqeta’s revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) EPS. Analysts predict that Marqeta will post 0.06 EPS for the current year.

Institutional Trading of Marqeta

Large investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its position in shares of Marqeta by 107.8% during the 4th quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock valued at $3,265,000 after acquiring an additional 441,617 shares during the last quarter. Congress Asset Management Co. raised its position in shares of Marqeta by 7.6% during the fourth quarter. Congress Asset Management Co. now owns 1,135,842 shares of the company’s stock worth $4,305,000 after purchasing an additional 80,161 shares during the period. Xponance Inc. lifted its holdings in shares of Marqeta by 11.5% during the fourth quarter. Xponance Inc. now owns 34,314 shares of the company’s stock valued at $130,000 after purchasing an additional 3,546 shares during the last quarter. Mission Creek Capital Partners Inc. acquired a new position in shares of Marqeta in the 4th quarter valued at $778,000. Finally, Quantbot Technologies LP purchased a new position in Marqeta in the 4th quarter worth about $235,000. 78.64% of the stock is currently owned by institutional investors.

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.