Marqeta, Inc. (NASDAQ:MQ) Given Average Recommendation of “Reduce” by Analysts

Marqeta, Inc. (NASDAQ:MQ) has received an average rating of “Reduce” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $19.75.

A number of equities analysts have weighed in on MQ shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Marqeta from $4.50 to $18.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Keefe, Bruyette & Woods raised their price objective on Marqeta from $18.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday. UBS Group boosted their target price on Marqeta from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marqeta in a research report on Wednesday, June 24th.

Marqeta Price Performance

NASDAQ:MQ opened at $16.66 on Thursday. The firm’s 50-day moving average price is $16.46 and its 200-day moving average price is $16.46. The company has a market capitalization of $1.77 billion, a PE ratio of 151.45 and a beta of 1.30. Marqeta has a 1-year low of $14.80 and a 1-year high of $28.16.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. Marqeta had a net margin of 1.53% and a return on equity of 1.33%. The company had revenue of $176.00 million during the quarter, compared to analyst estimates of $172.96 million. Marqeta’s revenue was up 17.0% on a year-over-year basis. Equities analysts anticipate that Marqeta will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CRO Todd Pollak sold 18,750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.88, for a total transaction of $316,500.00. Following the completion of the sale, the executive owned 185,008 shares of the company’s stock, valued at $3,122,935.04. This trade represents a 9.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Elaine Paul sold 4,537 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $15.20, for a total transaction of $68,962.40. Following the sale, the director directly owned 8,900 shares of the company’s stock, valued at $135,280. This trade represents a 33.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 13.71% of the company’s stock.

Institutional Trading of Marqeta

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new position in shares of Marqeta during the third quarter valued at $26,000. Western Wealth Management LLC purchased a new stake in shares of Marqeta during the first quarter valued at $27,000. EFG International AG bought a new stake in Marqeta in the 4th quarter worth about $27,000. CWM LLC increased its holdings in Marqeta by 82.2% in the 4th quarter. CWM LLC now owns 6,254 shares of the company’s stock worth $30,000 after buying an additional 2,821 shares in the last quarter. Finally, Leonteq Securities AG purchased a new position in Marqeta in the 4th quarter worth about $33,000. Institutional investors own 78.64% of the company’s stock.

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.