Marqeta, Inc. (NASDAQ:MQ) Receives $7.43 Average Price Target from Analysts

Shares of Marqeta, Inc. (NASDAQ:MQ) have been given an average recommendation of “Moderate Buy” by the sixteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $7.37.

Several research analysts recently issued reports on the stock. Barclays decreased their price target on shares of Marqeta from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Monness Crespi & Hardt raised their price objective on shares of Marqeta from $7.50 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Bank of America upgraded shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Monday, February 12th. Truist Financial restated a “buy” rating and set a $10.00 price objective (up from $9.00) on shares of Marqeta in a research note on Thursday, February 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Friday, March 1st.

Hedge Funds Weigh In On Marqeta

Several large investors have recently added to or reduced their stakes in MQ. FMR LLC lifted its holdings in shares of Marqeta by 27.1% in the third quarter. FMR LLC now owns 28,456,412 shares of the company’s stock worth $170,169,000 after buying an additional 6,058,777 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Marqeta in the third quarter worth $30,347,000. Capital International Investors lifted its holdings in shares of Marqeta by 203.1% in the first quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock worth $40,998,000 after buying an additional 4,609,526 shares in the last quarter. Norges Bank purchased a new position in shares of Marqeta in the fourth quarter worth $27,739,000. Finally, Alkeon Capital Management LLC lifted its holdings in shares of Marqeta by 94.2% in the third quarter. Alkeon Capital Management LLC now owns 5,155,103 shares of the company’s stock worth $30,828,000 after buying an additional 2,500,000 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Trading Up 3.7 %

NASDAQ:MQ opened at $5.38 on Tuesday. The company has a 50-day moving average price of $5.69 and a 200-day moving average price of $6.09. Marqeta has a 12 month low of $4.59 and a 12 month high of $7.36. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -14.94 and a beta of 1.81.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. The company had revenue of $117.90 million during the quarter, compared to analyst estimates of $117.05 million. Marqeta had a negative net margin of 32.98% and a negative return on equity of 11.84%. Marqeta’s quarterly revenue was down 45.8% compared to the same quarter last year. During the same period last year, the business earned ($0.13) EPS. Equities analysts forecast that Marqeta will post 0.01 EPS for the current fiscal year.

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.