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

Marqeta (NASDAQ:MQ) had its target price upped by UBS Group from $19.00 to $21.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group‘s price target indicates a potential upside of 12.96% from the stock’s previous close.

Several other equities research analysts have also issued reports on MQ. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marqeta in a report on Tuesday. 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 report on Wednesday, August 5th. Zacks Research lowered Marqeta from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 13th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $25.00 target price on shares of Marqeta in a report on Wednesday. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.71.

Marqeta Stock Performance

Marqeta stock traded up $0.15 during midday trading on Thursday, reaching $18.59. 647,609 shares of the company’s stock were exchanged, compared to its average volume of 770,099. The stock’s 50-day simple moving average is $17.31 and its 200 day simple moving average is $16.63. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 14.99 and a beta of 1.02. Marqeta has a 52 week low of $14.80 and a 52 week high of $20.56.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $1.03. The business had revenue of $176.18 million for the quarter, compared to analyst estimates of $175.40 million. Marqeta had a net margin of 1.53% and a return on equity of 1.36%. Marqeta’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) EPS. Research analysts forecast that Marqeta will post 0.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MQ. Parallel Advisors LLC bought a new position in shares of Marqeta during the 3rd quarter worth about $67,000. Allworth Financial LP raised its stake in Marqeta by 118.6% during the 3rd quarter. Allworth Financial LP now owns 5,882 shares of the company’s stock worth $100,000 after buying an additional 3,191 shares during the period. Western Wealth Management LLC acquired a new position in Marqeta during the 1st quarter worth approximately $27,000. Financial Solutions Advisory Group Inc. bought a new position in Marqeta in the first quarter worth approximately $41,000. Finally, Amundi boosted its holdings in Marqeta by 99.6% in the first quarter. Amundi now owns 20,301 shares of the company’s stock worth $83,000 after acquiring an additional 10,129 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Company Profile

Marqeta, Inc is a financial technology company that provides a modern card-issuing and payment-processing platform. Its infrastructure enables businesses to create, launch and manage physical, virtual and tokenized payment cards through application programming interfaces (APIs), without building a complete payments system internally.

The company’s platform supports card authorization and transaction processing, digital wallets, payment tokenization, fraud prevention and configurable spending controls.