Shares of Marqeta, Inc. (NASDAQ:MQ – Get Rating) have earned an average rating of “Hold” from the seventeen ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $7.21.
MQ has been the subject of several research analyst reports. Morgan Stanley cut Marqeta from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $8.00 to $4.50 in a research report on Monday, April 3rd. Sumitomo Mitsui Financial Group upgraded Marqeta from an “underperform” rating to a “neutral” rating and set a $8.00 price target for the company in a report on Wednesday, January 18th. KeyCorp cut their price target on Marqeta from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, April 5th. DA Davidson cut their price target on Marqeta from $7.25 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, March 1st. Finally, Mizuho cut their price target on Marqeta from $8.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, March 29th.
Marqeta Stock Up 8.7 %
Shares of MQ stock opened at $4.60 on Friday. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -13.53 and a beta of 1.80. The business’s fifty day moving average is $4.24 and its 200 day moving average is $5.72. Marqeta has a twelve month low of $3.46 and a twelve month high of $12.06.
Marqeta (NASDAQ:MQ – Get Rating) last announced its quarterly earnings results on Tuesday, May 9th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The business had revenue of $217.40 million for the quarter, compared to the consensus estimate of $211.79 million. Marqeta had a negative net margin of 24.70% and a negative return on equity of 12.19%. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.11) earnings per share. Equities research analysts expect that Marqeta will post -0.37 earnings per share for the current fiscal year.
Institutional Trading of Marqeta
Several large investors have recently added to or reduced their stakes in the company. Sepio Capital LP acquired a new position in shares of Marqeta in the 4th quarter valued at about $181,000. Keebeck Alpha LP acquired a new position in shares of Marqeta in the 3rd quarter valued at about $157,000. Tudor Investment Corp Et Al lifted its holdings in shares of Marqeta by 145.9% in the 3rd quarter. Tudor Investment Corp Et Al now owns 238,088 shares of the company’s stock valued at $1,695,000 after buying an additional 141,281 shares during the period. Pictet Asset Management SA lifted its holdings in shares of Marqeta by 23.5% in the 3rd quarter. Pictet Asset Management SA now owns 24,709 shares of the company’s stock valued at $176,000 after buying an additional 4,706 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Marqeta by 140.0% in the 4th quarter. SG Americas Securities LLC now owns 146,587 shares of the company’s stock valued at $896,000 after buying an additional 85,513 shares during the period. Hedge funds and other institutional investors own 61.35% 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 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.