Marqeta, Inc. (NASDAQ:MQ) Stock Has Average Target Price of $19.71 According to Analysts

Marqeta, Inc. (NASDAQ:MQ) has been assigned an average rating of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $19.71.

MQ has been the subject of a number of recent research reports. Zacks Research cut Marqeta from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Marqeta from $4.50 to $18.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Weiss Ratings raised Marqeta from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods upped their price target on Marqeta from $18.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 5th.

Marqeta Stock Performance

Shares of Marqeta stock opened at $18.69 on Tuesday. The company’s fifty day moving average is $16.57 and its two-hundred day moving average is $16.48. Marqeta has a 1 year low of $14.80 and a 1 year high of $22.28. The company has a market capitalization of $1.95 billion, a P/E ratio of 169.91 and a beta of 1.21.

Marqeta (NASDAQ:MQ) last released 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 analyst estimates of $172.96 million. Marqeta had a return on equity of 1.36% and a net margin of 1.53%. The company’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities analysts expect that Marqeta will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On Marqeta

Hedge funds and other institutional investors have recently bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Marqeta in the second quarter valued at about $98,000. AXQ Capital LP acquired a new position in shares of Marqeta during the second quarter worth about $95,000. Wellington Management Group LLP increased its stake in shares of Marqeta by 36.7% during the second quarter. Wellington Management Group LLP now owns 13,887,312 shares of the company’s stock worth $56,382,000 after acquiring an additional 3,727,289 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Marqeta during the second quarter worth about $525,000. Finally, Uber Technologies Inc acquired a new position in shares of Marqeta during the second quarter worth about $2,193,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

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.