Marqeta (NASDAQ:MQ) Stock Price Up 4.5% – Time to Buy?

Marqeta, Inc. (NASDAQ:MQ) shot up 4.5% during mid-day trading on Tuesday . The stock traded as high as $4.49 and last traded at $4.52. 4,908,388 shares were traded during mid-day trading, a decline of 7% from the average session volume of 5,287,119 shares. The stock had previously closed at $4.32.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MQ. The Goldman Sachs Group raised their target price on shares of Marqeta from $4.00 to $4.50 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Keefe, Bruyette & Woods reduced their target price on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a research note on Monday, January 6th. Barclays reaffirmed an “equal weight” rating and issued a $4.00 target price (down previously from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company reduced their target price on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.33.

Marqeta Stock Up 1.3 %

The stock’s fifty day moving average is $3.87 and its two-hundred day moving average is $4.27. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 228.50 and a beta of 1.49.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. The business had revenue of $135.79 million during the quarter, compared to the consensus estimate of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. As a group, analysts anticipate that Marqeta, Inc. will post 0.06 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System raised its stake in Marqeta by 0.6% during the fourth quarter. California State Teachers Retirement System now owns 380,608 shares of the company’s stock worth $1,443,000 after acquiring an additional 2,343 shares in the last quarter. Arizona State Retirement System raised its stake in Marqeta by 2.5% during the fourth quarter. Arizona State Retirement System now owns 116,397 shares of the company’s stock worth $441,000 after acquiring an additional 2,860 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Marqeta by 7.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 46,670 shares of the company’s stock valued at $174,000 after acquiring an additional 3,155 shares during the last quarter. Xponance Inc. boosted its holdings in Marqeta by 11.5% in the fourth quarter. Xponance Inc. now owns 34,314 shares of the company’s stock valued at $130,000 after acquiring an additional 3,546 shares during the last quarter. Finally, Primecap Management Co. CA boosted its holdings in Marqeta by 0.7% in the third quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock valued at $2,402,000 after acquiring an additional 3,627 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

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.