Marqeta (NASDAQ:MQ) Shares Gap Down – What’s Next?

Shares of Marqeta, Inc. (NASDAQ:MQ) gapped down prior to trading on Thursday . The stock had previously closed at $4.85, but opened at $4.45. Marqeta shares last traded at $4.6350, with a volume of 2,260,680 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a research note on Monday, December 29th. UBS Group dropped their price objective on shares of Marqeta from $5.75 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Keefe, Bruyette & Woods decreased their target price on shares of Marqeta from $6.00 to $5.50 and set a “market perform” rating on the stock in a research report on Friday, January 2nd. Mizuho reissued a “neutral” rating and issued a $4.50 target price (down previously from $8.00) on shares of Marqeta in a research note on Thursday. Finally, Zacks Research cut Marqeta from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $5.33.

Marqeta Price Performance

The stock has a market capitalization of $2.05 billion, a P/E ratio of -58.06 and a beta of 1.48. The company’s 50 day simple moving average is $4.80 and its two-hundred day simple moving average is $5.36.

Marqeta (NASDAQ:MQ) last announced its earnings results on Wednesday, November 5th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $163.31 million for the quarter, compared to the consensus estimate of $148.37 million. Marqeta had a negative return on equity of 4.22% and a negative net margin of 6.74%.Marqeta’s revenue was up 27.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) EPS. On average, research analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Insider Activity at Marqeta

In other news, Director Jason M. Gardner sold 69,043 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $5.00, for a total transaction of $345,215.00. Following the sale, the director owned 293,334 shares in the company, valued at approximately $1,466,670. This represents a 19.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 218,509 shares of company stock worth $1,092,545 in the last quarter. 12.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marqeta

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in Marqeta in the 3rd quarter valued at about $26,000. CTC Alternative Strategies Ltd. acquired a new position in Marqeta during the 3rd quarter worth $55,000. Nisa Investment Advisors LLC boosted its position in Marqeta by 61.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company’s stock valued at $57,000 after buying an additional 3,737 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Marqeta in the 1st quarter valued at $57,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Marqeta during the third quarter worth $60,000. 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.