Marqeta (NASDAQ:MQ) Stock Price Up 4.5% – Should You Buy?

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

Analysts Set New Price Targets

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

Marqeta Stock Performance

The company has a market cap of $2.24 billion, a price-to-earnings ratio of 221.75 and a beta of 1.49. The stock’s fifty day simple moving average is $3.85 and its two-hundred day simple moving average is $4.28.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 2.86% and a return on equity of 1.20%. Analysts predict that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Marqeta

Hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in shares of Marqeta during the 4th quarter valued at $33,000. Covestor Ltd lifted its holdings in shares of Marqeta by 1,255.4% during the 4th quarter. Covestor Ltd now owns 10,030 shares of the company’s stock valued at $38,000 after acquiring an additional 9,290 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Marqeta by 125.6% during the 4th quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock valued at $38,000 after acquiring an additional 49,243 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in shares of Marqeta during the 4th quarter valued at $38,000. Finally, Stifel Financial Corp acquired a new position in shares of Marqeta during the 4th quarter valued at $41,000. 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.