Marqeta (NASDAQ:MQ) Shares Gap Down – Time to Sell?

Marqeta, Inc. (NASDAQ:MQ) gapped down prior to trading on Friday . The stock had previously closed at $3.84, but opened at $3.62. Marqeta shares last traded at $3.74, with a volume of 738,980 shares.

Analyst Ratings Changes

MQ has been the topic of several recent research reports. Keefe, Bruyette & Woods reduced their price target on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a research report on Monday. JPMorgan Chase & Co. reduced their price target on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. William Blair lowered shares of Marqeta from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group reduced their price objective on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Finally, Barclays reissued an “equal weight” rating and set a $4.00 price target (down previously from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Marqeta has a consensus rating of “Hold” and a consensus price target of $5.82.

Marqeta Price Performance

The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 183.50 and a beta of 1.52. The stock has a 50 day moving average price of $3.94 and a two-hundred day moving average price of $4.78.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The firm had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.05 million. During the same period last year, the firm posted ($0.07) earnings per share. Marqeta’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, research analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Marqeta

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC grew its stake in Marqeta by 8.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock worth $246,000 after acquiring an additional 3,548 shares during the period. Primecap Management Co. CA lifted its position in Marqeta by 0.7% during the third quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock worth $2,402,000 after buying an additional 3,627 shares during the period. Principal Financial Group Inc. lifted its position in Marqeta by 9.9% during the second quarter. Principal Financial Group Inc. now owns 60,636 shares of the company’s stock worth $332,000 after buying an additional 5,481 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Marqeta by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock worth $1,385,000 after buying an additional 5,515 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Marqeta by 6.5% during the 2nd quarter. Arizona State Retirement System now owns 116,295 shares of the company’s stock valued at $637,000 after acquiring an additional 7,097 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

About Marqeta

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.