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

Shares of Marqeta, Inc. (NASDAQ:MQ) have been assigned an average rating of “Reduce” from the twelve research firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $5.1389.

MQ has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Marqeta in a research report on Monday, December 29th. Morgan Stanley cut their price target on shares of Marqeta from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 25th. JPMorgan Chase & Co. assumed coverage on Marqeta in a research note on Tuesday, February 17th. They set an “overweight” rating and a $6.00 price objective on the stock. Wolfe Research downgraded Marqeta from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Finally, Keefe, Bruyette & Woods lowered their target price on Marqeta from $6.00 to $5.50 and set a “market perform” rating for the company in a research note on Friday, January 2nd.

Marqeta Price Performance

Shares of MQ opened at $4.16 on Friday. The firm has a market cap of $1.78 billion, a P/E ratio of -138.67 and a beta of 1.48. The stock has a 50 day simple moving average of $4.13 and a two-hundred day simple moving average of $4.66. Marqeta has a 1 year low of $3.47 and a 1 year high of $7.04.

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

Insider Buying and Selling

In related news, Director Judson C. Linville acquired 25,570 shares of the stock in a transaction on Friday, February 27th. The stock was purchased at an average price of $3.93 per share, for a total transaction of $100,490.10. Following the completion of the transaction, the director owned 104,220 shares of the company’s stock, valued at $409,584.60. This trade represents a 32.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MQ. Quarry LP bought a new stake in Marqeta during the 3rd quarter valued at $26,000. EFG International AG bought a new stake in Marqeta in the 4th quarter worth $27,000. CWM LLC grew its holdings in Marqeta by 82.2% in the 4th quarter. CWM LLC now owns 6,254 shares of the company’s stock worth $30,000 after acquiring an additional 2,821 shares during the last quarter. Leonteq Securities AG purchased a new position in shares of Marqeta in the fourth quarter valued at about $33,000. Finally, Amundi bought a new position in shares of Marqeta during the fourth quarter valued at about $48,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

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.