Marqeta Target of Unusually High Options Trading (NASDAQ:MQ)

Marqeta, Inc. (NASDAQ:MQ) was the target of some unusual options trading activity on Friday. Investors acquired 3,285 put options on the company. This represents an increase of 62% compared to the average daily volume of 2,028 put options.

Marqeta Price Performance

Shares of MQ stock opened at $3.93 on Friday. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.36. The business’s fifty day moving average price is $4.91 and its 200 day moving average price is $5.20. The firm has a market capitalization of $2.00 billion, a PE ratio of 196.50 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.05 million. During the same period in the prior year, the firm posted ($0.07) EPS. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. Equities research analysts expect that Marqeta will post 0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MQ. Wells Fargo & Company lowered shares of Marqeta from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $7.00 to $5.00 in a research note on Tuesday, November 5th. KeyCorp lowered shares of Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price objective on Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Mizuho decreased their target price on Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods lowered their target price on Marqeta from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Tuesday, November 5th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.27.

Institutional Investors Weigh In On Marqeta

Several institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd boosted its stake in shares of Marqeta by 17,340.0% during 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 last quarter. J.Safra Asset Management Corp lifted its stake in shares of Marqeta by 633.2% during the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after purchasing an additional 5,300 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Marqeta in the 3rd quarter worth approximately $57,000. CreativeOne Wealth LLC purchased a new stake in Marqeta during the 3rd quarter worth $59,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Marqeta by 7,852.8% in the first 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 in the last quarter. 78.64% of the stock is currently 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.