Marqeta, Inc. (NASDAQ:MQ) Receives $5.33 Average PT from Analysts

Marqeta, Inc. (NASDAQ:MQ) has received a consensus recommendation of “Hold” from the fourteen research firms that are covering the company, Marketbeat.com reports. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $5.33.

MQ has been the subject of several recent research reports. The Goldman Sachs Group increased their price objective on Marqeta from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Barclays reiterated an “equal weight” rating and set a $4.00 price objective (down from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Wells Fargo & Company cut their price objective on Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods cut their price objective on Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a report on Monday, January 6th.

Marqeta Stock Up 1.3 %

MQ opened at $4.57 on Monday. The stock has a fifty day moving average of $3.87 and a 200-day moving average of $4.27. The firm has a market capitalization of $2.30 billion, a P/E ratio of 228.50 and a beta of 1.49. Marqeta has a 12-month low of $3.37 and a 12-month high of $6.44.

Marqeta (NASDAQ:MQ) last released its earnings results 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 during the quarter, compared to analyst estimates of $132.71 million. On average, analysts expect that Marqeta will post 0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marqeta

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB grew its position in shares of Marqeta by 107.8% in the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock valued at $3,265,000 after purchasing an additional 441,617 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Marqeta in the third quarter valued at about $1,466,000. Congress Asset Management Co. grew its position in shares of Marqeta by 7.6% in the fourth quarter. Congress Asset Management Co. now owns 1,135,842 shares of the company’s stock valued at $4,305,000 after purchasing an additional 80,161 shares during the last quarter. Main Management ETF Advisors LLC acquired a new stake in shares of Marqeta in the third quarter valued at about $786,000. Finally, Holocene Advisors LP grew its position in shares of Marqeta by 143.0% in the third quarter. Holocene Advisors LP now owns 522,059 shares of the company’s stock valued at $2,569,000 after purchasing an additional 307,223 shares during the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Marqeta Company Profile

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.