Marqeta, Inc. (NASDAQ:MQ) Receives Average Recommendation of “Hold” from Brokerages

Shares of Marqeta, Inc. (NASDAQ:MQ) have earned an average rating of “Hold” from the sixteen analysts that are currently covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $6.27.

A number of research analysts have weighed in on MQ shares. Wells Fargo & Company downgraded Marqeta from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $7.00 to $5.00 in a report on Tuesday, November 5th. Mizuho cut their target price on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. UBS Group reduced their target price on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. Keefe, Bruyette & Woods dropped their price target on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. reduced their price objective on Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th.

Institutional Investors Weigh In On Marqeta

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC lifted its position in shares of Marqeta by 8.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock worth $246,000 after buying an additional 3,548 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Marqeta by 0.7% during the 3rd quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock worth $2,402,000 after acquiring an additional 3,627 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Marqeta by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock worth $281,000 after acquiring an additional 3,979 shares in the last quarter. Covestor Ltd boosted its position in shares of Marqeta by 17,340.0% during the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock valued at $26,000 after acquiring an additional 4,335 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Marqeta by 6.6% in the first quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock valued at $505,000 after purchasing an additional 5,257 shares in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Stock Down 0.8 %

Shares of MQ stock opened at $3.93 on Tuesday. The company has a 50 day moving average price of $4.91 and a 200-day moving average price of $5.20. Marqeta has a 52 week low of $3.37 and a 52 week high of $7.36. The firm has a market capitalization of $2.00 billion, a PE ratio of 196.50 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last posted its earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the firm posted ($0.07) EPS. Analysts anticipate that Marqeta will post 0.06 earnings per share for the current year.

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.