Analysts Set Marqeta, Inc. (NASDAQ:MQ) Price Target at $7.11

Marqeta, Inc. (NASDAQ:MQ) has been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat reports. Five 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 analysts that have issued a report on the stock in the last year is $7.11.

MQ has been the subject of a number of recent research reports. Susquehanna reiterated a “positive” rating and set a $9.00 price objective on shares of Marqeta in a research note on Tuesday, August 6th. Wells Fargo & Company upgraded shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price target on the stock in a research note on Tuesday, June 25th. The Goldman Sachs Group restated a “neutral” rating and set a $5.50 price objective on shares of Marqeta in a research note on Monday, June 24th. UBS Group dropped their target price on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of 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

NASDAQ:MQ opened at $4.98 on Monday. The firm’s 50-day moving average price is $5.18 and its 200-day moving average price is $5.42. The company has a market capitalization of $2.58 billion, a PE ratio of -13.83 and a beta of 1.78. Marqeta has a 1-year low of $4.40 and a 1-year high of $7.36.

Marqeta (NASDAQ:MQ) last announced its earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The business had revenue of $125.30 million during the quarter, compared to the consensus estimate of $121.87 million. During the same quarter last year, the firm earned ($0.07) earnings per share. The business’s revenue for the quarter was down 45.8% on a year-over-year basis. Equities analysts anticipate that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd lifted its stake in shares of 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 purchasing an additional 4,335 shares during the period. J.Safra Asset Management Corp raised its position in Marqeta by 633.2% in the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after acquiring an additional 5,300 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Marqeta by 7,852.8% during the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after acquiring an additional 9,973 shares during the last quarter. Magnetar Financial LLC bought a new stake in shares of Marqeta during the 2nd quarter valued at $61,000. Finally, Empowered Funds LLC purchased a new stake in shares of Marqeta in the 1st quarter worth $65,000. 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.