The Goldman Sachs Group Boosts Marqeta (NASDAQ:MQ) Price Target to $4.50

Marqeta (NASDAQ:MQ) had its price objective raised by equities research analysts at The Goldman Sachs Group from $4.00 to $4.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 7.66% from the stock’s previous close.

Several other research firms have also recently weighed in on MQ. JPMorgan Chase & Co. lowered their price target on Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Keefe, Bruyette & Woods lowered their price target on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a report on Monday, January 6th. Susquehanna lowered their price target on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. Monness Crespi & Hardt cut Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target on the stock. in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft cut Marqeta from a “buy” rating to a “hold” rating and lowered their price target for the company from $9.00 to $4.00 in a report on Tuesday, November 5th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.33.

Marqeta Stock Performance

NASDAQ:MQ opened at $4.18 on Thursday. Marqeta has a 52-week low of $3.37 and a 52-week high of $6.98. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 209.00 and a beta of 1.52. The business’s fifty day moving average is $3.78 and its 200 day moving average is $4.39.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company had revenue of $135.79 million for the quarter, compared to analyst estimates of $132.71 million. Equities analysts predict that Marqeta will post 0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Marqeta

Several institutional investors and hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. bought a new position in Marqeta during the 4th quarter worth approximately $72,879,000. Price T Rowe Associates Inc. MD grew its position in Marqeta by 5,396.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company’s stock worth $68,862,000 after acquiring an additional 17,838,535 shares during the last quarter. Geode Capital Management LLC grew its position in Marqeta by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company’s stock worth $41,819,000 after acquiring an additional 318,184 shares during the last quarter. RPD Fund Management LLC bought a new position in Marqeta during the 4th quarter worth approximately $37,289,000. Finally, Westfield Capital Management Co. LP grew its position in Marqeta by 4.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 8,333,453 shares of the company’s stock worth $41,001,000 after acquiring an additional 319,661 shares during the last quarter. 78.64% of the stock is currently 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. 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.