Marqeta (NASDAQ:MQ) Stock Rating Cut to Hold at Zacks Research

Zacks Research cut shares of Marqeta (NASDAQ:MQ) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks reports.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Marqeta from $4.50 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Weiss Ratings upgraded Marqeta from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods raised their target price on Marqeta from $18.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.71.

Marqeta Price Performance

MQ opened at $18.18 on Tuesday. The firm has a fifty day moving average price of $16.47 and a 200 day moving average price of $16.44. Marqeta has a 1 year low of $14.80 and a 1 year high of $22.28. The stock has a market cap of $1.89 billion, a P/E ratio of 165.27 and a beta of 1.21.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The firm had revenue of $176.00 million for the quarter, compared to the consensus estimate of $172.96 million. Marqeta had a net margin of 1.53% and a return on equity of 1.36%. Marqeta’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities analysts expect that Marqeta will post 0.28 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in shares of Marqeta by 36.7% in the second quarter. Wellington Management Group LLP now owns 13,887,312 shares of the company’s stock valued at $56,382,000 after purchasing an additional 3,727,289 shares during the period. Renaissance Technologies LLC lifted its stake in Marqeta by 2.1% in the 1st quarter. Renaissance Technologies LLC now owns 11,580,288 shares of the company’s stock valued at $47,248,000 after buying an additional 237,933 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Marqeta by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,779,290 shares of the company’s stock valued at $35,818,000 after buying an additional 567,673 shares in the last quarter. North Reef Capital Management LP boosted its holdings in Marqeta by 23.3% in the 1st quarter. North Reef Capital Management LP now owns 7,400,000 shares of the company’s stock worth $30,192,000 after buying an additional 1,400,000 shares during the last quarter. Finally, Southpoint Capital Advisors LP acquired a new stake in Marqeta in the 1st quarter worth about $12,240,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Marqeta Company Profile

Marqeta, Inc is a financial technology company that provides a modern card-issuing and payment-processing platform. Its cloud-based infrastructure enables businesses to create, launch and manage physical, virtual and tokenized payment cards through application programming interfaces (APIs), without building a card program and processing network entirely in-house.

The Marqeta platform supports transaction processing, authorization, funding, digital wallet integration, card controls and fraud prevention.