Marqeta, Inc. (NASDAQ:MQ) Receives $5.29 Average PT from Analysts

Marqeta, Inc. (NASDAQ:MQ) has earned an average rating of “Hold” from the fourteen ratings firms that are covering the stock, Marketbeat reports. Eleven investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $5.29.

A number of research analysts have commented on the stock. Barclays restated an “equal weight” rating and issued a $4.00 price objective (down from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Wells Fargo & Company lowered their target price on Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Keefe, Bruyette & Woods decreased their price target on Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a report on Monday, January 6th. Finally, The Goldman Sachs Group dropped 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.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Sanders Morris Harris LLC acquired a new position in Marqeta in the 1st quarter valued at about $148,000. Rhumbline Advisers lifted its stake in shares of Marqeta by 7.5% during the first quarter. Rhumbline Advisers now owns 686,876 shares of the company’s stock valued at $2,830,000 after buying an additional 47,965 shares during the period. Wellington Management Group LLP acquired a new stake in Marqeta during the fourth quarter worth approximately $19,717,000. California State Teachers Retirement System grew its stake in Marqeta by 0.6% in the 4th quarter. California State Teachers Retirement System now owns 380,608 shares of the company’s stock worth $1,443,000 after acquiring an additional 2,343 shares during the period. Finally, Palogic Value Management L.P. raised its holdings in Marqeta by 45.5% in the 4th quarter. Palogic Value Management L.P. now owns 400,000 shares of the company’s stock valued at $1,516,000 after acquiring an additional 125,000 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Stock Performance

Shares of MQ stock opened at $3.85 on Friday. Marqeta has a 1 year low of $3.37 and a 1 year high of $6.01. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 192.50 and a beta of 1.42. The stock’s 50-day moving average is $3.99 and its two-hundred day moving average is $4.15.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $135.79 million during the quarter, compared to analysts’ expectations of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. As a group, research analysts predict 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.