Marqeta (NASDAQ:MQ) Price Target Raised to $19.00

Marqeta (NASDAQ:MQ) had its target price increased by Keefe, Bruyette & Woods from $18.00 to $19.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

Several other equities research analysts have also recently weighed in on MQ. UBS Group upped their target price on Marqeta from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Marqeta in a research note on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Marqeta from $4.50 to $18.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Marqeta currently has an average rating of “Reduce” and an average price target of $19.75.

Marqeta Trading Down 4.4%

Shares of NASDAQ:MQ opened at $15.96 on Wednesday. The firm has a 50 day moving average of $16.47 and a 200-day moving average of $16.44. The stock has a market capitalization of $1.69 billion, a PE ratio of 145.09 and a beta of 1.30. Marqeta has a 12 month low of $14.80 and a 12 month high of $28.16.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The company had revenue of $176.00 million during 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%. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, research analysts predict that Marqeta will post 0.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CRO Todd Pollak sold 18,750 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.88, for a total value of $316,500.00. Following the completion of the transaction, the executive owned 185,008 shares of the company’s stock, valued at $3,122,935.04. This represents a 9.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Elaine Paul sold 4,537 shares of the firm’s stock in a transaction that occurred 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 $135,280. This 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 owned by corporate insiders.

Hedge Funds Weigh In On Marqeta

A number of institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC bought a new stake in shares of Marqeta during the first quarter worth about $57,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Marqeta by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 279,103 shares of the company’s stock worth $1,150,000 after buying an additional 9,319 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Marqeta by 7.6% during 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 buying an additional 65,313 shares during the period. Intech Investment Management LLC grew its holdings in Marqeta by 22.1% during the 1st quarter. Intech Investment Management LLC now owns 288,114 shares of the company’s stock worth $1,187,000 after acquiring an additional 52,219 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Marqeta by 8.1% during the 2nd quarter. Invesco Ltd. now owns 6,268,848 shares of the company’s stock worth $36,547,000 after acquiring an additional 471,631 shares during the last quarter. Institutional investors and hedge funds 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.