Marqeta (NASDAQ:MQ – Get Rating) was downgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Thursday, The Fly reports.
MQ has been the subject of a number of other reports. Barclays reduced their target price on shares of Marqeta from $19.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, August 15th. UBS Group initiated coverage on shares of Marqeta in a research note on Tuesday, June 7th. They issued a “buy” rating and a $14.00 target price for the company. Truist Financial reduced their price objective on shares of Marqeta from $20.00 to $16.00 in a research note on Thursday, May 12th. Morgan Stanley upgraded shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a research note on Tuesday, May 24th. Finally, Mizuho reduced their price objective on shares of Marqeta from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, August 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.90.
Marqeta Trading Up 4.2 %
Shares of NASDAQ MQ opened at $7.51 on Thursday. The firm has a market cap of $4.08 billion, a PE ratio of -22.09 and a beta of 2.61. Marqeta has a 1-year low of $6.05 and a 1-year high of $37.90. The company has a fifty day moving average price of $8.67 and a 200 day moving average price of $9.62.
Marqeta (NASDAQ:MQ – Get Rating) last announced its earnings results on Wednesday, August 10th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The firm had revenue of $186.70 million during the quarter, compared to analyst estimates of $180.14 million. Marqeta had a negative net margin of 29.36% and a negative return on equity of 12.07%. The company’s revenue for the quarter was up 52.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.29) EPS. Equities research analysts forecast that Marqeta will post -0.39 EPS for the current year.
Insider Buying and Selling at Marqeta
In other Marqeta news, insider Seth R. Weissman sold 100,000 shares of the stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $9.50, for a total value of $950,000.00. Following the transaction, the insider now directly owns 6,157 shares of the company’s stock, valued at approximately $58,491.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 22.24% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Aaron Wealth Advisors LLC bought a new position in shares of Marqeta during the first quarter worth approximately $200,000. Bronson Point Management LLC bought a new position in shares of Marqeta during the fourth quarter worth approximately $52,000. Advisors Asset Management Inc. bought a new position in shares of Marqeta during the first quarter worth approximately $38,000. FourThought Financial LLC bought a new position in shares of Marqeta during the first quarter worth approximately $51,000. Finally, Captrust Financial Advisors bought a new position in shares of Marqeta during the first quarter worth approximately $53,000. 67.04% of the stock is owned by institutional investors.
About Marqeta
Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions.