Marqeta (NASDAQ:MQ) Stock Price Up 4.2% – Here’s Why

Shares of Marqeta, Inc. (NASDAQ:MQ) traded up 4.2% on Tuesday . The stock traded as high as $4.30 and last traded at $4.30. 1,069,566 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 5,550,180 shares. The stock had previously closed at $4.12.

Analyst Ratings Changes

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

Marqeta Price Performance

The firm has a market capitalization of $2.18 billion, a PE ratio of 216.75 and a beta of 1.49. The business has a 50-day simple moving average of $3.97 and a 200-day simple moving average of $4.23.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.05. The company had revenue of $135.79 million for the quarter, compared to analyst estimates of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. On average, research analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Institutional Trading of Marqeta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of Marqeta during the fourth quarter worth $33,000. Blueshift Asset Management LLC bought a new stake in Marqeta during the 4th quarter valued at about $38,000. Covestor Ltd boosted its position in Marqeta by 1,255.4% in the 4th quarter. Covestor Ltd now owns 10,030 shares of the company’s stock valued at $38,000 after buying an additional 9,290 shares during the period. Bank of Montreal Can grew its stake in Marqeta by 125.6% in the 4th quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock worth $38,000 after acquiring an additional 49,243 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Marqeta during the fourth quarter worth approximately $41,000. 78.64% of the stock is owned by hedge funds and other 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.