Marqeta, Inc. (NASDAQ:MQ) Receives $7.11 Average Target Price from Brokerages

Marqeta, Inc. (NASDAQ:MQ) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $7.11.

Several equities analysts have recently commented on MQ shares. Wells Fargo & Company upgraded Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective on the stock in a research report on Tuesday, June 25th. The Goldman Sachs Group reissued a “neutral” rating and issued a $5.50 price target on shares of Marqeta in a report on Monday, June 24th. JPMorgan Chase & Co. dropped their price target on Marqeta from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Susquehanna reiterated a “positive” rating and set a $9.00 price objective on shares of Marqeta in a research report on Tuesday, August 6th. Finally, UBS Group dropped their target price on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

Institutional Investors Weigh In On Marqeta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MQ. Covestor Ltd boosted its holdings in shares of Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock worth $26,000 after purchasing an additional 4,335 shares during the period. J.Safra Asset Management Corp lifted its position in Marqeta by 633.2% in the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after buying an additional 5,300 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Marqeta by 7,852.8% in the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after buying an additional 9,973 shares during the last quarter. Magnetar Financial LLC purchased a new position in Marqeta during the second quarter worth $61,000. Finally, Empowered Funds LLC bought a new position in Marqeta during the first quarter valued at $65,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Marqeta Trading Up 0.4 %

NASDAQ MQ opened at $4.98 on Monday. Marqeta has a 12 month low of $4.40 and a 12 month high of $7.36. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -13.83 and a beta of 1.78. The company’s 50 day moving average is $5.18 and its two-hundred day moving average is $5.42.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. The firm had revenue of $125.30 million for the quarter, compared to the consensus estimate of $121.87 million. Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The company’s revenue was down 45.8% on a year-over-year basis. During the same period last year, the firm earned ($0.07) EPS. Sell-side analysts forecast that Marqeta will post 0.06 EPS for the current year.

Marqeta Company Profile

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.