Marqeta (NASDAQ:MQ) Stock Rating Lowered by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft cut shares of Marqeta (NASDAQ:MQ) from a buy rating to a hold rating in a research note published on Tuesday morning, MarketBeat.com reports. The firm currently has $4.00 price target on the stock, down from their previous price target of $9.00.

Other equities research analysts also recently issued research reports about the stock. UBS Group reduced their price target on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company lowered Marqeta from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $7.00 to $5.00 in a report on Tuesday. JPMorgan Chase & Co. lowered their price target on Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Susquehanna reissued a “positive” rating and set a $9.00 price target on shares of Marqeta in a research report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods decreased their price objective on Marqeta from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.27.

Marqeta Stock Up 0.8 %

Shares of NASDAQ MQ opened at $3.83 on Tuesday. The stock’s fifty day simple moving average is $5.08 and its 200 day simple moving average is $5.28. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 191.50 and a beta of 1.73. Marqeta has a 52-week low of $3.37 and a 52-week high of $7.36.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Marqeta had a return on equity of 1.17% and a net margin of 2.86%. The company had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $128.05 million. During the same period in the prior year, the business posted ($0.07) EPS. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, analysts anticipate that Marqeta will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MQ. Allspring Global Investments Holdings LLC lifted its position in shares of Marqeta by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock worth $281,000 after buying an additional 3,979 shares during the last quarter. Empowered Funds LLC acquired a new stake in Marqeta in the 1st quarter worth approximately $65,000. Swiss National Bank boosted its position in Marqeta by 4.6% during the first quarter. Swiss National Bank now owns 784,700 shares of the company’s stock worth $4,677,000 after purchasing an additional 34,300 shares during the period. Russell Investments Group Ltd. grew its holdings in Marqeta by 7,852.8% during the first 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 during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Marqeta by 6.6% in the first quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock valued at $505,000 after purchasing an additional 5,257 shares during the period. Institutional investors and hedge funds own 78.64% of the company’s stock.

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.