Marqeta (NASDAQ:MQ) Price Target Raised to $4.50 at Keefe, Bruyette & Woods

Marqeta (NASDAQ:MQ) had its target price lifted by Keefe, Bruyette & Woods from $4.00 to $4.50 in a research note published on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

A number of other research analysts have also commented on the company. The Goldman Sachs Group cut their price target on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company cut their target price on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.00.

Marqeta Stock Up 2.4 %

MQ stock opened at $4.60 on Thursday. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 230.00 and a beta of 1.41. The firm has a 50 day moving average of $4.07 and a two-hundred day moving average of $4.01. Marqeta has a 12 month low of $3.37 and a 12 month high of $6.01.

Marqeta (NASDAQ:MQ) last announced its earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The firm had revenue of $139.07 million during the quarter, compared to analysts’ expectations of $135.66 million. During the same quarter in the prior year, the business earned ($0.07) earnings per share. The company’s revenue was up 17.9% on a year-over-year basis. On average, research analysts expect that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Trading of Marqeta

Institutional investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. bought a new position in Marqeta during the fourth quarter worth about $72,879,000. Price T Rowe Associates Inc. MD lifted its position in shares of Marqeta by 5,396.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company’s stock worth $68,862,000 after buying an additional 17,838,535 shares during the period. Geode Capital Management LLC boosted its stake in Marqeta by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company’s stock valued at $41,819,000 after buying an additional 318,184 shares in the last quarter. RPD Fund Management LLC bought a new stake in Marqeta in the fourth quarter valued at $37,289,000. Finally, North Reef Capital Management LP raised its stake in Marqeta by 99.7% during the fourth quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company’s stock worth $29,513,000 after acquiring an additional 3,886,999 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Company Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.