Marqeta, Inc. (NASDAQ:MQ) Receives Consensus Rating of “Hold” from Brokerages

Marqeta, Inc. (NASDAQ:MQ) has been given a consensus recommendation of “Hold” by the sixteen research firms that are currently covering the stock, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $6.03.

MQ has been the subject of several research analyst reports. William Blair lowered shares of Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Monness Crespi & Hardt lowered Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 target price on the stock. in a research note on Tuesday, November 5th. Wells Fargo & Company cut Marqeta from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $7.00 to $5.00 in a research report on Tuesday, November 5th. Mizuho decreased their price objective on Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. 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 report on Monday, December 2nd.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $3.79 on Wednesday. Marqeta has a 1 year low of $3.37 and a 1 year high of $7.36. The company has a market capitalization of $1.90 billion, a PE ratio of 189.50 and a beta of 1.54. The business has a fifty day moving average price of $4.20 and a two-hundred day moving average price of $4.84.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. Marqeta’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) EPS. Sell-side analysts anticipate that Marqeta will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MQ. JPMorgan Chase & Co. increased its stake in Marqeta by 263.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company’s stock worth $6,499,000 after acquiring an additional 956,992 shares during the last quarter. Barclays PLC increased its position in shares of Marqeta by 226.4% in the third quarter. Barclays PLC now owns 861,414 shares of the company’s stock worth $4,238,000 after purchasing an additional 597,539 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Marqeta in the third quarter worth approximately $339,000. Main Management ETF Advisors LLC purchased a new stake in Marqeta in the third quarter valued at approximately $786,000. Finally, XTX Topco Ltd grew its stake in Marqeta by 1,359.0% in the 3rd quarter. XTX Topco Ltd now owns 191,586 shares of the company’s stock worth $943,000 after buying an additional 178,455 shares in the last quarter. 78.64% of the stock is owned by institutional investors.

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.