Marqeta, Inc. (NASDAQ:MQ) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Marqeta, Inc. (NASDAQ:MQ) have earned a consensus rating of “Reduce” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $5.1389.

MQ has been the subject of several research analyst reports. Mizuho reiterated a “neutral” rating and set a $4.50 target price (down from $8.00) on shares of Marqeta in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marqeta in a research report on Monday, December 29th. Morgan Stanley lowered their price target on Marqeta from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. UBS Group cut their price target on Marqeta from $5.00 to $4.25 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Finally, Keefe, Bruyette & Woods reduced their price objective on Marqeta from $6.00 to $5.50 and set a “market perform” rating for the company in a research report on Friday, January 2nd.

Insider Buying and Selling

In other Marqeta news, Director Jason M. Gardner sold 113,366 shares of Marqeta stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $5.00, for a total transaction of $566,830.00. Following the sale, the director owned 303,467 shares in the company, valued at $1,517,335. The trade was a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 218,509 shares of company stock valued at $1,092,545 over the last three months. 12.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marqeta

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in Marqeta in the third quarter worth about $26,000. EFG International AG bought a new stake in shares of Marqeta in the 4th quarter valued at approximately $27,000. CWM LLC raised its holdings in shares of Marqeta by 82.2% in the 4th quarter. CWM LLC now owns 6,254 shares of the company’s stock worth $30,000 after buying an additional 2,821 shares in the last quarter. Leonteq Securities AG bought a new position in shares of Marqeta during the 4th quarter worth approximately $33,000. Finally, Amundi acquired a new stake in Marqeta in the 4th quarter valued at $48,000. 78.64% of the stock is owned by institutional investors.

Marqeta Stock Down 2.0%

MQ opened at $3.84 on Monday. The stock’s 50 day moving average price is $4.40 and its two-hundred day moving average price is $4.93. The firm has a market capitalization of $1.69 billion, a P/E ratio of -128.00 and a beta of 1.48. Marqeta has a 12-month low of $3.47 and a 12-month high of $7.04.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.01. Marqeta had a negative return on equity of 1.62% and a negative net margin of 2.23%.The company had revenue of $172.11 million during the quarter, compared to analysts’ expectations of $167.05 million. During the same period in the prior year, the business earned ($0.05) earnings per share. Marqeta’s revenue for the quarter was up 26.7% compared to the same quarter last year. As a group, analysts anticipate that Marqeta will post 0.06 earnings per share for the current year.

About Marqeta

Marqeta is a modern card issuing and payment processing platform that enables businesses to design, launch and manage customized payment cards. The company offers a fully programmable open API that allows clients to create virtual, physical and tokenized payment cards with real-time transaction controls and dynamic spend limits. By leveraging Marqeta’s infrastructure, companies can streamline their payment operations, reduce time to market and deliver tailored payment experiences to end consumers.

Founded in 2010 and headquartered in Oakland, California, Marqeta was established by CEO Jason Gardner with the goal of transforming traditional card issuance through cloud-native technology.