The Goldman Sachs Group Issues Positive Forecast for Marqeta (NASDAQ:MQ) Stock Price

Marqeta (NASDAQ:MQ) had its target price hoisted by equities research analysts at The Goldman Sachs Group from $4.00 to $4.50 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 6.76% from the company’s previous close.

MQ has been the topic of a number of other reports. William Blair lowered Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered shares of Marqeta from a “buy” rating to a “hold” rating and cut their price objective for the company from $9.00 to $4.00 in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price target on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Keefe, Bruyette & Woods lowered their price objective on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a research report on Monday, January 6th. Finally, KeyCorp cut Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.69.

Marqeta Stock Performance

NASDAQ MQ traded up $0.71 during trading on Thursday, hitting $4.22. 11,227,810 shares of the company’s stock traded hands, compared to its average volume of 4,727,952. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 210.75 and a beta of 1.52. Marqeta has a 12-month low of $3.37 and a 12-month high of $7.36. The business has a 50 day moving average of $3.76 and a 200-day moving average of $4.40.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company had revenue of $135.79 million for the quarter, compared to analysts’ expectations of $132.71 million. On average, analysts expect that Marqeta will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Marqeta

A number of large investors have recently added to or reduced their stakes in the business. Cache Advisors LLC bought a new position in shares of Marqeta during the fourth quarter valued at about $129,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Marqeta by 18.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 860,234 shares of the company’s stock valued at $3,260,000 after acquiring an additional 133,188 shares during the period. Wexford Capital LP bought a new position in Marqeta during the 4th quarter worth approximately $94,000. Two Sigma Advisers LP increased its stake in Marqeta by 30.6% in the 4th quarter. Two Sigma Advisers LP now owns 5,071,400 shares of the company’s stock worth $19,221,000 after purchasing an additional 1,188,100 shares during the period. Finally, Two Sigma Investments LP lifted its position in Marqeta by 9.2% in the fourth quarter. Two Sigma Investments LP now owns 3,458,087 shares of the company’s stock valued at $13,106,000 after purchasing an additional 292,698 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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.