Keefe, Bruyette & Woods Lowers Marqeta (NASDAQ:MQ) Price Target to $6.00

Marqeta (NASDAQ:MQ) had its target price reduced by analysts at Keefe, Bruyette & Woods from $7.00 to $6.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 10.09% from the company’s current price.

Several other equities analysts also recently commented on MQ. Barclays dropped their price objective on shares of Marqeta from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Wedbush reaffirmed a “neutral” rating and set a $6.00 price target on shares of Marqeta in a research note on Wednesday, May 8th. Monness Crespi & Hardt raised their price target on shares of Marqeta from $7.50 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $5.50 price target on shares of Marqeta in a research note on Monday, June 24th. Finally, Wells Fargo & Company raised shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price target for the company in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Marqeta currently has an average rating of “Moderate Buy” and a consensus target price of $7.13.

Marqeta Trading Up 0.4 %

Shares of Marqeta stock opened at $5.45 on Monday. The company has a 50 day moving average of $5.44 and a 200-day moving average of $5.87. Marqeta has a 1-year low of $4.86 and a 1-year high of $7.36. The company has a market cap of $2.82 billion, a PE ratio of -15.14 and a beta of 1.78.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Marqeta had a negative net margin of 32.98% and a negative return on equity of 11.84%. The company had revenue of $117.90 million during the quarter, compared to the consensus estimate of $117.05 million. During the same quarter in the prior year, the firm posted ($0.13) EPS. The firm’s quarterly revenue was down 45.8% on a year-over-year basis. Research analysts forecast that Marqeta will post 0.01 earnings per share for the current year.

Insider Buying and Selling at Marqeta

In other news, Director Martha Cummings sold 40,241 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $5.47, for a total value of $220,118.27. Following the completion of the transaction, the director now directly owns 19,000 shares of the company’s stock, valued at $103,930. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marqeta

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in Marqeta during the fourth quarter valued at about $27,739,000. Dimensional Fund Advisors LP raised its position in Marqeta by 16.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,305,306 shares of the company’s stock valued at $44,015,000 after purchasing an additional 900,675 shares in the last quarter. One Fin Capital Management LP raised its position in Marqeta by 10.0% during the fourth quarter. One Fin Capital Management LP now owns 2,200,000 shares of the company’s stock valued at $15,356,000 after purchasing an additional 200,000 shares in the last quarter. Gillson Capital LP purchased a new position in shares of Marqeta in the fourth quarter worth about $8,254,000. Finally, Capital International Investors purchased a new position in shares of Marqeta in the fourth quarter worth about $15,840,000. Hedge funds and other institutional investors 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.