Marqeta, Inc. (NASDAQ:MQ – Get Free Report)’s stock price shot up 6.7% during trading on Friday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $7.00 to $9.00. The company traded as high as $5.69 and last traded at $5.61. 3,767,395 shares were traded during trading, a decline of 37% from the average session volume of 5,946,145 shares. The stock had previously closed at $5.26.
MQ has been the topic of several other reports. BTIG Research began coverage on Marqeta in a research note on Tuesday, June 13th. They issued a “neutral” rating on the stock. Mizuho reduced their price objective on Marqeta from $7.00 to $6.00 in a research note on Tuesday, May 16th. Berenberg Bank upgraded Marqeta from a “hold” rating to a “buy” rating and raised their price target for the company from $5.00 to $8.00 in a research note on Wednesday. Finally, Bank of America began coverage on Marqeta in a research note on Thursday, June 1st. They issued a “neutral” rating and a $5.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Marqeta presently has an average rating of “Hold” and a consensus target price of $6.81.
Insider Transactions at Marqeta
In other Marqeta news, Director Martha Cummings sold 21,371 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $5.16, for a total value of $110,274.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Martha Cummings sold 21,371 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $5.16, for a total transaction of $110,274.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Judson C. Linville bought 44,650 shares of Marqeta stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average price of $4.46 per share, with a total value of $199,139.00. Following the acquisition, the director now directly owns 44,650 shares of the company’s stock, valued at approximately $199,139. The disclosure for this purchase can be found here. Insiders own 10.88% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in MQ. Vanguard Group Inc. increased its position in Marqeta by 5.8% during the third quarter. Vanguard Group Inc. now owns 42,892,435 shares of the company’s stock worth $305,393,000 after acquiring an additional 2,361,729 shares during the period. Capital Research Global Investors lifted its position in shares of Marqeta by 349.7% in the 1st quarter. Capital Research Global Investors now owns 37,142,171 shares of the company’s stock worth $410,050,000 after purchasing an additional 28,882,196 shares during the period. BlackRock Inc. lifted its position in shares of Marqeta by 2.4% in the 3rd quarter. BlackRock Inc. now owns 30,903,031 shares of the company’s stock worth $220,029,000 after purchasing an additional 735,035 shares during the period. FMR LLC increased its stake in shares of Marqeta by 115.8% in the 1st quarter. FMR LLC now owns 17,762,677 shares of the company’s stock valued at $81,175,000 after acquiring an additional 9,531,356 shares in the last quarter. Finally, Visa Inc. bought a new stake in Marqeta during the 1st quarter valued at $137,389,000. Institutional investors and hedge funds own 58.61% of the company’s stock.
Marqeta Trading Up 8.7 %
The stock has a market capitalization of $3.09 billion, a PE ratio of -14.38 and a beta of 1.83. The stock’s fifty day simple moving average is $5.06 and its 200-day simple moving average is $4.96.
Marqeta (NASDAQ:MQ – Get Free Report) last issued its earnings results on Tuesday, May 9th. The company reported ($0.13) earnings per share 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 return on equity of 12.92% and a negative net margin of 24.54%. Marqeta’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) EPS. As a group, analysts anticipate that Marqeta, Inc. will post -0.35 earnings per share for the current fiscal year.
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, financial technology, embedded finance solutions, and large financial institution.