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

Shares of Marqeta, Inc. (NASDAQ:MQ) have earned an average rating of “Hold” from the fourteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $5.33.

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods reduced their price target on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company reduced 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 report on Thursday, January 16th. The Goldman Sachs Group increased their price target on shares of Marqeta from $4.00 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Finally, Barclays reaffirmed an “equal weight” rating and set a $4.00 price target (down previously from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th.

Institutional Trading of Marqeta

Several large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in Marqeta by 2.5% during the 4th quarter. Arizona State Retirement System now owns 116,397 shares of the company’s stock valued at $441,000 after purchasing an additional 2,860 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Marqeta by 7.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 46,670 shares of the company’s stock valued at $174,000 after purchasing an additional 3,155 shares during the period. Xponance Inc. raised its stake in Marqeta by 11.5% during the 4th 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 period. Primecap Management Co. CA raised its stake in Marqeta by 0.7% during the 3rd quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock valued at $2,402,000 after purchasing an additional 3,627 shares during the period. Finally, Summit Investment Advisors Inc. raised its stake in Marqeta by 8.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 49,615 shares of the company’s stock valued at $188,000 after purchasing an additional 3,938 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

Marqeta Stock Up 2.5 %

Shares of Marqeta stock opened at $4.10 on Monday. Marqeta has a fifty-two week low of $3.37 and a fifty-two week high of $6.44. The firm has a market cap of $2.07 billion, a PE ratio of 205.00 and a beta of 1.49. The business’s fifty day moving average is $3.84 and its two-hundred day moving average is $4.28.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company had revenue of $135.79 million for the quarter, compared to analyst estimates of $132.71 million. Equities research analysts anticipate that Marqeta will post 0.06 EPS 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.