Brokerages Set Marqeta, Inc. (NASDAQ:MQ) Target Price at $7.13

Marqeta, Inc. (NASDAQ:MQ) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $7.13.

Several equities analysts recently issued reports on MQ shares. Wedbush reissued a “neutral” rating and set a $6.00 price objective on shares of Marqeta in a report on Wednesday, May 8th. Barclays cut their price objective on shares of Marqeta from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Monness Crespi & Hardt lifted their price objective on shares of Marqeta from $7.50 to $8.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Mizuho cut their price objective on shares of Marqeta from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Finally, Wells Fargo & Company raised shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective on the stock in a report on Tuesday, June 25th.

Marqeta Stock Performance

Marqeta stock opened at $5.37 on Wednesday. The company has a 50 day moving average price of $5.43 and a 200-day moving average price of $5.86. Marqeta has a fifty-two week low of $4.86 and a fifty-two week high of $7.36. The company has a market capitalization of $2.78 billion, a PE ratio of -14.92 and a beta of 1.78.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. Marqeta had a negative net margin of 32.98% and a negative return on equity of 11.84%. The firm had revenue of $117.90 million during the quarter, compared to the consensus estimate of $117.05 million. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. The company’s revenue was down 45.8% on a year-over-year basis. On average, analysts forecast that Marqeta will post 0.01 earnings per share for the current year.

Insider Transactions at Marqeta

In other news, Director Martha Cummings sold 40,241 shares of Marqeta stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $5.47, for a total transaction of $220,118.27. Following the completion of the sale, the director now directly owns 19,000 shares in the company, valued at $103,930. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 12.12% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MQ. Capital International Investors lifted its position in Marqeta by 203.1% during the first quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock valued at $40,998,000 after purchasing an additional 4,609,526 shares during the period. Norges Bank acquired a new position in Marqeta during the fourth quarter valued at $27,739,000. Vanguard Group Inc. raised its position in shares of Marqeta by 3.6% in the first quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock worth $282,717,000 after acquiring an additional 1,642,621 shares during the period. Westfield Capital Management Co. LP raised its position in shares of Marqeta by 27.6% in the first quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock worth $44,216,000 after acquiring an additional 1,604,223 shares during the period. Finally, Gillson Capital LP acquired a new position in shares of Marqeta in the fourth quarter worth about $8,254,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.