Marqeta, Inc. (NASDAQ:MQ) Given Average Rating of “Hold” by Brokerages

Marqeta, Inc. (NASDAQ:MQ) has received a consensus recommendation of “Hold” from the sixteen analysts that are currently covering the company, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $6.27.

A number of equities research analysts have issued reports on MQ shares. Wells Fargo & Company lowered shares of Marqeta from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $7.00 to $5.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group dropped their price objective on shares of Marqeta from $5.50 to $4.50 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Susquehanna lowered their target price on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. KeyCorp cut shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th.

Marqeta Trading Down 0.8 %

MQ opened at $3.90 on Tuesday. The stock has a market cap of $1.96 billion, a PE ratio of 195.00 and a beta of 1.73. Marqeta has a twelve month low of $3.37 and a twelve month high of $7.36. The business’s 50 day moving average is $4.89 and its 200-day moving average is $5.19.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $128.05 million. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, analysts forecast that Marqeta will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Marqeta

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC boosted its stake in Marqeta by 8.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock valued at $246,000 after acquiring an additional 3,548 shares during the last quarter. Primecap Management Co. CA raised 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 worth $2,402,000 after purchasing an additional 3,627 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in 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 purchasing an additional 3,979 shares during the period. Covestor Ltd raised its holdings in Marqeta by 17,340.0% in the first 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. Finally, ProShare Advisors LLC raised its holdings in Marqeta by 6.6% in the first quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock worth $505,000 after purchasing an additional 5,257 shares during the period. 78.64% of the stock is owned by 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.