Marqeta, Inc. (NASDAQ:MQ) Receives $5.22 Consensus Price Target from Brokerages

Shares of Marqeta, Inc. (NASDAQ:MQ) have been given an average rating of “Reduce” by the eleven ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $5.2188.

A number of analysts recently commented on the stock. Morgan Stanley dropped their price target on shares of Marqeta from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. UBS Group upped their price target on shares of Marqeta from $4.25 to $4.75 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. assumed coverage on shares of Marqeta in a research note on Tuesday, February 17th. They set an “overweight” rating and a $6.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a research note on Friday, March 27th.

Insider Activity at Marqeta

In other Marqeta news, Director Elaine Paul sold 17,452 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $4.47, for a total value of $78,010.44. Following the sale, the director directly owned 17,453 shares in the company, valued at $78,014.91. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Judson C. Linville bought 25,570 shares of the stock in a transaction on Friday, February 27th. The stock was purchased at an average price of $3.93 per share, for a total transaction of $100,490.10. Following the completion of the purchase, the director directly owned 104,220 shares in the company, valued at approximately $409,584.60. This represents a 32.51% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 12.61% of the company’s stock.

Institutional Trading of Marqeta

Several institutional investors and hedge funds have recently bought and sold shares of MQ. AQR Capital Management LLC purchased a new stake in Marqeta in the 1st quarter worth approximately $57,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Marqeta by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 279,103 shares of the company’s stock worth $1,150,000 after purchasing an additional 9,319 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Marqeta by 7.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,547 shares of the company’s stock worth $3,813,000 after purchasing an additional 65,313 shares in the last quarter. Intech Investment Management LLC lifted its stake in Marqeta by 22.1% in the 1st quarter. Intech Investment Management LLC now owns 288,114 shares of the company’s stock worth $1,187,000 after purchasing an additional 52,219 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Marqeta by 8.1% in the 2nd quarter. Invesco Ltd. now owns 6,268,848 shares of the company’s stock worth $36,547,000 after purchasing an additional 471,631 shares in the last quarter. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Marqeta Trading Up 3.4%

Shares of MQ stock opened at $3.94 on Friday. The stock has a market capitalization of $1.67 billion, a P/E ratio of 394.39 and a beta of 1.35. The firm’s 50 day moving average is $4.11 and its 200 day moving average is $4.39. Marqeta has a 12 month low of $3.70 and a 12 month high of $7.04.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.02 EPS for the quarter. The company had revenue of $165.80 million for the quarter, compared to analysts’ expectations of $164.30 million. Marqeta had a net margin of 0.33% and a return on equity of 0.27%. Marqeta’s revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) EPS. On average, equities analysts predict that Marqeta will post 0.04 EPS for the current year.

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.