Marqeta (NASDAQ:MQ) Stock Price Expected to Rise, Barclays Analyst Says

Marqeta (NASDAQ:MQ) had its target price raised by research analysts at Barclays from $4.00 to $5.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 3.52% from the stock’s current price.

Several other equities research analysts have also recently issued reports on MQ. Wells Fargo & Company reduced their price objective on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. UBS Group lifted their price target on shares of Marqeta from $4.75 to $5.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. The Goldman Sachs Group dropped their price objective on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lifted their target price on Marqeta from $4.00 to $4.50 and gave the stock a “market perform” rating in a report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Marqeta presently has an average rating of “Hold” and an average target price of $5.09.

Marqeta Price Performance

Shares of NASDAQ MQ opened at $4.83 on Monday. The stock has a market cap of $2.44 billion, a PE ratio of 241.50 and a beta of 1.41. Marqeta has a 1 year low of $3.37 and a 1 year high of $6.01. The firm has a fifty day moving average price of $4.09 and a 200-day moving average price of $4.01.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The business had revenue of $139.07 million during the quarter, compared to analyst estimates of $135.66 million. During the same quarter in the prior year, the business posted ($0.07) EPS. Marqeta’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, research analysts expect that Marqeta will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Marqeta

A number of large investors have recently bought and sold shares of MQ. Versor Investments LP bought a new stake in shares of Marqeta during the first quarter valued at approximately $500,000. American Century Companies Inc. increased its holdings in Marqeta by 17.6% during the 1st quarter. American Century Companies Inc. now owns 780,164 shares of the company’s stock worth $3,214,000 after purchasing an additional 116,999 shares during the period. Sei Investments Co. raised its position in Marqeta by 331.1% during the 1st quarter. Sei Investments Co. now owns 71,911 shares of the company’s stock valued at $291,000 after purchasing an additional 55,229 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Marqeta by 63,866.1% in the 1st quarter. Russell Investments Group Ltd. now owns 143,284 shares of the company’s stock worth $590,000 after buying an additional 143,060 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Marqeta in the 1st quarter worth $5,420,000. 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.