Marqeta (NASDAQ:MQ) Trading 5.9% Higher – Still a Buy?

Marqeta, Inc. (NASDAQ:MQ)’s stock price was up 5.9% during trading on Monday . The company traded as high as $3.97 and last traded at $3.99. Approximately 742,958 shares traded hands during trading, a decline of 81% from the average daily volume of 3,839,645 shares. The stock had previously closed at $3.77.

Analysts Set New Price Targets

MQ has been the topic of several analyst reports. Morgan Stanley reduced their price objective on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Mizuho lowered their price objective on Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Barclays reiterated an “equal weight” rating and issued a $4.00 target price (down from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. William Blair lowered shares of Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group reduced their price objective on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.75.

Marqeta Price Performance

The firm’s fifty day moving average price is $3.83 and its two-hundred day moving average price is $4.61. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 194.00 and a beta of 1.52.

Marqeta (NASDAQ:MQ) last issued its 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 1.20% and a net margin of 2.86%. The firm had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. During the same period in the previous year, the company earned ($0.07) earnings per share. Marqeta’s revenue for the quarter was up 20.8% compared to the same quarter last year. On average, equities research analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Institutional Investors Weigh In On Marqeta

Institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC increased its position in shares of Marqeta by 324.6% during the fourth quarter. Empowered Funds LLC now owns 55,793 shares of the company’s stock valued at $211,000 after acquiring an additional 42,653 shares during the last quarter. Baader Bank Aktiengesellschaft increased its position in shares of Marqeta by 12.1% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 105,457 shares of the company’s stock valued at $399,000 after purchasing an additional 11,356 shares during the last quarter. KBC Group NV raised its stake in shares of Marqeta by 68.8% during the 4th quarter. KBC Group NV now owns 22,546 shares of the company’s stock worth $85,000 after purchasing an additional 9,186 shares during the period. apricus wealth LLC bought a new position in Marqeta during the fourth quarter valued at about $51,000. Finally, Tallon Kerry Patrick purchased a new stake in Marqeta during the fourth quarter worth about $98,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

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.