Marqeta, Inc. (NASDAQ:MQ) Given Average Rating of “Moderate Buy” by Analysts

Marqeta, Inc. (NASDAQ:MQ) has been given an average rating of “Moderate Buy” by the fifteen brokerages that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $7.11.

Several research analysts have issued reports on the company. Wedbush reiterated a “neutral” rating and issued a $6.00 price objective on shares of Marqeta in a research report on Wednesday, May 8th. William Blair restated an “outperform” rating on shares of Marqeta in a research report on Wednesday, May 8th. Monness Crespi & Hardt raised their price target on Marqeta from $7.50 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Mizuho dropped their price target on Marqeta from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. dropped their price target on Marqeta from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th.

Marqeta Price Performance

Marqeta stock opened at $5.33 on Thursday. Marqeta has a 12 month low of $4.40 and a 12 month high of $7.36. The business has a 50 day simple moving average of $5.33 and a 200-day simple moving average of $5.60. The stock has a market capitalization of $2.76 billion, a PE ratio of -14.81 and a beta of 1.78.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. The firm had revenue of $125.30 million during the quarter, compared to analysts’ expectations of $121.87 million. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. Marqeta’s revenue was down 45.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.07) earnings per share. As a group, equities research analysts anticipate that Marqeta will post 0.06 EPS for the current year.

Insiders Place Their Bets

In other Marqeta news, Director Martha Cummings sold 40,241 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $5.47, for a total value of $220,118.27. Following the sale, the director now directly owns 19,000 shares of the company’s stock, valued at approximately $103,930. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 12.12% of the stock is owned by corporate insiders.

Institutional Trading of Marqeta

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd boosted its stake in Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock worth $26,000 after buying an additional 4,335 shares during the last quarter. J.Safra Asset Management Corp lifted its stake in shares of Marqeta by 633.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after purchasing an additional 5,300 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Marqeta by 7,852.8% in the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after purchasing an additional 9,973 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of Marqeta in the 2nd quarter valued at about $61,000. Finally, Empowered Funds LLC acquired a new position in shares of Marqeta in the 1st quarter valued at about $65,000. 78.64% of the stock is 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.