Brokerages Set Marqeta, Inc. (NASDAQ:MQ) PT at $5.33

Marqeta, Inc. (NASDAQ:MQ) has earned an average recommendation of “Reduce” from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $5.3333.

MQ has been the topic of a number of research reports. UBS Group cut their target price on shares of Marqeta from $5.75 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Mizuho restated a “neutral” rating and issued a $4.50 price objective (down from $8.00) on shares of Marqeta in a report on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marqeta in a report on Monday, December 29th. Citigroup upgraded shares of Marqeta to a “hold” rating in a research report on Thursday, October 23rd. Finally, Wolfe Research lowered Marqeta from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th.

Insider Transactions at Marqeta

In other news, Director Jason M. Gardner sold 113,366 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $5.00, for a total transaction of $566,830.00. Following the completion of the transaction, the director directly owned 303,467 shares in the company, valued at approximately $1,517,335. The trade was a 27.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 218,509 shares of company stock worth $1,092,545 in the last quarter. 12.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MQ. Quarry LP bought a new stake in Marqeta in the third quarter valued at approximately $26,000. CTC Alternative Strategies Ltd. acquired a new position in shares of Marqeta in the 3rd quarter valued at $55,000. Nisa Investment Advisors LLC increased its position in shares of Marqeta by 61.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company’s stock valued at $57,000 after buying an additional 3,737 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Marqeta during the 1st quarter worth $57,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Marqeta during the 3rd quarter worth $60,000. Institutional investors own 78.64% of the company’s stock.

Marqeta Trading Down 3.0%

Shares of MQ stock opened at $4.52 on Friday. The company has a market capitalization of $1.99 billion, a P/E ratio of -56.50 and a beta of 1.48. Marqeta has a 12 month low of $3.47 and a 12 month high of $7.04. The stock has a 50 day moving average of $4.81 and a two-hundred day moving average of $5.33.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Marqeta had a negative net margin of 6.74% and a negative return on equity of 4.22%. The firm had revenue of $163.31 million for the quarter, compared to analyst estimates of $148.37 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. The business’s revenue for the quarter was up 27.7% on a year-over-year basis. Sell-side analysts predict that Marqeta will post 0.06 earnings per share for the current fiscal year.

About Marqeta

Marqeta is a modern card issuing and payment processing platform that enables businesses to design, launch and manage customized payment cards. The company offers a fully programmable open API that allows clients to create virtual, physical and tokenized payment cards with real-time transaction controls and dynamic spend limits. By leveraging Marqeta’s infrastructure, companies can streamline their payment operations, reduce time to market and deliver tailored payment experiences to end consumers.

Founded in 2010 and headquartered in Oakland, California, Marqeta was established by CEO Jason Gardner with the goal of transforming traditional card issuance through cloud-native technology.