Marqeta (NASDAQ:MQ) Shares Gap Down – Time to Sell?

Marqeta, Inc. (NASDAQ:MQ)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $4.02, but opened at $3.78. Marqeta shares last traded at $3.95, with a volume of 464,682 shares.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MQ shares. Keefe, Bruyette & Woods dropped their target price on Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley cut their price objective on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. William Blair downgraded shares of Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. UBS Group cut their price target on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.27.

Marqeta Stock Up 1.3 %

The firm has a market capitalization of $1.95 billion, a PE ratio of 193.50 and a beta of 1.73. The stock has a 50-day simple moving average of $4.76 and a 200-day simple moving average of $5.11.

Marqeta (NASDAQ:MQ) last announced 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 during the quarter, compared to analysts’ expectations of $128.05 million. During the same period last year, the business posted ($0.07) EPS. The company’s revenue was up 20.8% compared to the same quarter last year. Equities analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Marqeta

Hedge funds and other institutional investors have recently modified their holdings of the business. Congress Asset Management Co. raised its stake in shares of Marqeta by 46.8% during the 3rd quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock valued at $5,194,000 after purchasing an additional 336,349 shares during the period. Visa Foundation bought a new stake in shares of Marqeta during the second quarter valued at about $68,197,000. Comerica Bank lifted its holdings in shares of Marqeta by 27.8% in the first quarter. Comerica Bank now owns 1,007,954 shares of the company’s stock worth $6,007,000 after buying an additional 219,001 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of Marqeta by 671.7% in the third quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock valued at $1,153,000 after acquiring an additional 204,026 shares during the period. Finally, American Century Companies Inc. grew its stake in Marqeta by 197.5% during the second quarter. American Century Companies Inc. now owns 286,013 shares of the company’s stock valued at $1,567,000 after acquiring an additional 189,882 shares in the last quarter. 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.