Marqeta Target of Unusually Large Options Trading (NASDAQ:MQ)

Marqeta, Inc. (NASDAQ:MQ) saw unusually large options trading activity on Tuesday. Stock investors bought 6,605 call options on the stock. This represents an increase of 178% compared to the typical daily volume of 2,379 call options.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Marqeta from a “buy” rating to a “hold” rating and lowered their target price for the stock from $9.00 to $4.00 in a research report on Tuesday, November 5th. Wells Fargo & Company downgraded Marqeta from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $7.00 to $5.00 in a research report on Tuesday, November 5th. Monness Crespi & Hardt cut Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target for the company. in a research report on Tuesday, November 5th. William Blair lowered shares of Marqeta from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Finally, KeyCorp cut shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.97.

Institutional Trading of Marqeta

Several institutional investors have recently made changes to their positions in the stock. Westfield Capital Management Co. LP raised its holdings in Marqeta by 4.0% in the third quarter. Westfield Capital Management Co. LP now owns 8,333,453 shares of the company’s stock valued at $41,001,000 after buying an additional 319,661 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Marqeta by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock worth $40,759,000 after acquiring an additional 389,045 shares in the last quarter. Alkeon Capital Management LLC raised its stake in shares of Marqeta by 31.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 7,420,663 shares of the company’s stock valued at $36,510,000 after acquiring an additional 1,767,845 shares during the period. ZWJ Investment Counsel Inc. lifted its holdings in shares of Marqeta by 2.5% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 2,038,246 shares of the company’s stock valued at $10,028,000 after acquiring an additional 49,104 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Marqeta by 263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company’s stock worth $6,499,000 after purchasing an additional 956,992 shares during the period. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Trading Up 0.5 %

Shares of NASDAQ:MQ opened at $3.86 on Wednesday. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 193.00 and a beta of 1.52. The stock’s 50-day moving average price is $4.01 and its two-hundred day moving average price is $4.79. Marqeta has a 12-month low of $3.37 and a 12-month high of $7.36.

Marqeta (NASDAQ:MQ) last released its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company had revenue of $127.90 million during the quarter, compared to analyst estimates of $128.05 million. During the same period in the prior year, the business posted ($0.07) earnings per share. Marqeta’s revenue was up 20.8% on a year-over-year basis. As a group, research analysts forecast that Marqeta will post 0.06 earnings per share for the current fiscal 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.