Marqeta (NASDAQ:MQ) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Marqeta (NASDAQ:MQ) from a hold rating to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

Several other brokerages also recently commented on MQ. Keefe, Bruyette & Woods lifted their target price on shares of Marqeta from $18.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Marqeta from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Marqeta from $4.50 to $18.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Finally, UBS Group boosted their price objective on shares of Marqeta from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.75.

Marqeta Price Performance

MQ opened at $16.47 on Wednesday. The stock’s 50 day simple moving average is $16.43 and its 200 day simple moving average is $16.38. Marqeta has a 1 year low of $14.80 and a 1 year high of $25.85. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 149.73 and a beta of 1.30.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. The firm had revenue of $176.00 million during the quarter, compared to the consensus estimate of $172.96 million. Marqeta had a return on equity of 1.36% and a net margin of 1.53%.The business’s revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marqeta will post 0.27 EPS for the current year.

Insider Activity at Marqeta

In related news, CRO Todd Pollak sold 18,750 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $16.88, for a total value 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 SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Elaine Paul sold 4,537 shares of Marqeta stock in a transaction 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 completion of the sale, the director owned 8,900 shares in the company, valued at approximately $135,280. This trade represents a 33.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Marqeta during the 3rd quarter valued at about $26,000. Western Wealth Management LLC purchased a new position in shares of Marqeta during the first quarter valued at about $27,000. EFG International AG bought a new position in Marqeta in the fourth quarter worth about $27,000. CWM LLC raised its stake in Marqeta by 82.2% in the fourth 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 stake in Marqeta in the fourth quarter worth about $33,000. 78.64% of the stock is currently owned by institutional investors.

Marqeta Company Profile

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.