Marqeta (NASDAQ:MQ) Stock Price Up 4.5% – Should You Buy?

Marqeta, Inc. (NASDAQ:MQ)’s share price rose 4.5% on Tuesday . The company traded as high as $4.49 and last traded at $4.52. Approximately 4,908,388 shares were traded during trading, a decline of 7% from the average daily volume of 5,287,119 shares. The stock had previously closed at $4.32.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays reissued an “equal weight” rating and issued a $4.00 target price (down previously from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Keefe, Bruyette & Woods dropped their target price on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a report on Monday, January 6th. The Goldman Sachs Group increased their target price on Marqeta from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Thursday, February 27th. Finally, Wells Fargo & Company dropped their target price on Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.33.

Marqeta Price Performance

The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 221.75 and a beta of 1.49. The stock’s 50-day moving average is $3.85 and its 200 day moving average is $4.28.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Palogic Value Management L.P. increased its holdings in Marqeta by 45.5% in the fourth quarter. Palogic Value Management L.P. now owns 400,000 shares of the company’s stock valued at $1,516,000 after buying an additional 125,000 shares in the last quarter. Cache Advisors LLC purchased a new position in shares of Marqeta during the 4th quarter worth approximately $129,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 worth $3,260,000 after purchasing an additional 133,188 shares in the last quarter. Wexford Capital LP purchased a new position in shares of Marqeta during the 4th quarter worth approximately $94,000. Finally, Two Sigma Advisers LP increased its stake in shares of Marqeta by 30.6% during 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 in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

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.