Marqeta, Inc. (NASDAQ:MQ) Receives $5.29 Consensus Price Target from Analysts

Marqeta, Inc. (NASDAQ:MQ) has been given a consensus rating of “Hold” by the fourteen ratings firms that are currently covering the stock, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $5.29.

MQ has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered their target price on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company dropped their price objective on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Barclays restated 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. Finally, The Goldman Sachs Group lowered their price objective on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd.

Marqeta Stock Up 0.3 %

MQ opened at $3.85 on Friday. The company has a market cap of $1.94 billion, a PE ratio of 192.50 and a beta of 1.42. Marqeta has a twelve month low of $3.37 and a twelve month high of $6.01. The company has a 50-day moving average price of $3.99 and a 200 day moving average price of $4.15.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $135.79 million for the quarter, compared to analyst estimates of $132.71 million. As a group, sell-side analysts expect that Marqeta will post 0.06 earnings per share for the current year.

Institutional Investors Weigh In On Marqeta

A number of hedge funds have recently bought and sold shares of MQ. Verition Fund Management LLC increased its position in shares of Marqeta by 45.5% in the 3rd quarter. Verition Fund Management LLC now owns 69,163 shares of the company’s stock valued at $340,000 after purchasing an additional 21,625 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Marqeta during the 3rd quarter worth about $339,000. Barclays PLC increased its holdings in shares of Marqeta by 226.4% in the 3rd quarter. Barclays PLC now owns 861,414 shares of the company’s stock valued at $4,238,000 after acquiring an additional 597,539 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Marqeta by 263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company’s stock worth $6,499,000 after acquiring an additional 956,992 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Marqeta by 107.8% during the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock worth $3,265,000 after purchasing an additional 441,617 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

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.