Marqeta, Inc. (NASDAQ:MQ) Receives $5.75 Average Price Target from Analysts

Shares of Marqeta, Inc. (NASDAQ:MQ) have been assigned an average rating of “Hold” from the sixteen analysts that are presently covering the company, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $5.75.

MQ has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft downgraded Marqeta from a “buy” rating to a “hold” rating and dropped their target price for the stock from $9.00 to $4.00 in a research report on Tuesday, November 5th. Morgan Stanley dropped their price objective on Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Barclays reaffirmed an “equal weight” rating and issued a $4.00 target price (down previously from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Susquehanna dropped their price target on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th.

Marqeta Stock Up 1.0 %

Shares of NASDAQ MQ opened at $3.88 on Friday. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 194.00 and a beta of 1.52. Marqeta has a 12-month low of $3.37 and a 12-month high of $7.36. The firm’s 50-day simple moving average is $3.83 and its 200 day simple moving average is $4.61.

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

Institutional Trading of Marqeta

Several hedge funds have recently bought and sold shares of the stock. Congress Asset Management Co. boosted its position in shares of Marqeta by 46.8% during the third quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock worth $5,194,000 after buying an additional 336,349 shares during the period. Nordea Investment Management AB boosted its position in Marqeta by 107.8% during the 4th quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock worth $3,265,000 after acquiring an additional 441,617 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Marqeta during the 3rd quarter worth approximately $1,466,000. Main Management ETF Advisors LLC acquired a new stake in shares of Marqeta in the third quarter valued at approximately $786,000. Finally, GSA Capital Partners LLP boosted its holdings in Marqeta by 671.7% during the third quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock worth $1,153,000 after purchasing an additional 204,026 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.