Brokerages Set Marqeta, Inc. (NASDAQ:MQ) PT at $7.43

Shares of Marqeta, Inc. (NASDAQ:MQGet Free Report) have earned an average rating of “Moderate Buy” from the sixteen analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.37.

A number of research firms have weighed in on MQ. Mizuho cut their price objective on shares of Marqeta from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Monness Crespi & Hardt upped their price target on shares of Marqeta from $7.50 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Wells Fargo & Company upped their price target on shares of Marqeta from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Wedbush restated a “neutral” rating and issued a $6.00 price target on shares of Marqeta in a report on Wednesday, May 8th. Finally, Truist Financial restated a “buy” rating and issued a $10.00 price target (up from $9.00) on shares of Marqeta in a report on Thursday, February 29th.

Check Out Our Latest Stock Analysis on MQ

Hedge Funds Weigh In On Marqeta

Several hedge funds have recently modified their holdings of the stock. Comerica Bank increased its holdings in shares of Marqeta by 27.8% during the first quarter. Comerica Bank now owns 1,007,954 shares of the company’s stock valued at $6,007,000 after acquiring an additional 219,001 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Marqeta by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 285,379 shares of the company’s stock worth $1,702,000 after buying an additional 14,696 shares during the period. Quadrature Capital Ltd acquired a new position in Marqeta in the 1st quarter worth approximately $250,000. Capital International Investors increased its holdings in Marqeta by 203.1% in the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock worth $40,998,000 after buying an additional 4,609,526 shares during the period. Finally, CreativeOne Wealth LLC acquired a new position in Marqeta in the 1st quarter worth approximately $72,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Stock Performance

Shares of MQ opened at $5.38 on Tuesday. Marqeta has a fifty-two week low of $4.59 and a fifty-two week high of $7.36. The stock has a market capitalization of $2.79 billion, a PE ratio of -14.94 and a beta of 1.81. The company’s fifty day moving average is $5.68 and its 200 day moving average is $6.08.

Marqeta (NASDAQ:MQGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. Marqeta had a negative net margin of 32.98% and a negative return on equity of 11.84%. The business had revenue of $117.90 million for the quarter, compared to analysts’ expectations of $117.05 million. During the same quarter in the previous year, the business posted ($0.13) earnings per share. The business’s revenue was down 45.8% compared to the same quarter last year. As a group, research analysts forecast that Marqeta will post 0.01 earnings per share for the current year.

Marqeta Company Profile

(Get Free Report

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.

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Analyst Recommendations for Marqeta (NASDAQ:MQ)

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