Marqeta, Inc. (NASDAQ:MQ) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Marqeta, Inc. (NASDAQ:MQ) have been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $7.11.

A number of research analysts recently weighed in on MQ shares. Keefe, Bruyette & Woods decreased their target price on shares of Marqeta from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Monday, July 8th. UBS Group cut their price target on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their price target on shares of Marqeta from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Susquehanna reiterated a “positive” rating and issued a $9.00 price target on shares of Marqeta in a research note on Tuesday, August 6th.

Institutional Trading of Marqeta

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC grew its stake in Marqeta by 8.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock valued at $246,000 after acquiring an additional 3,548 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Marqeta by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock worth $281,000 after buying an additional 3,979 shares in the last quarter. Covestor Ltd grew its stake in Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock worth $26,000 after buying an additional 4,335 shares in the last quarter. ProShare Advisors LLC grew its stake in Marqeta by 6.6% in the 1st quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock worth $505,000 after buying an additional 5,257 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its stake in Marqeta by 633.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after buying an additional 5,300 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.

Marqeta Trading Up 1.7 %

Shares of MQ stock opened at $5.27 on Friday. The firm’s 50 day moving average is $5.11 and its 200-day moving average is $5.30. Marqeta has a 1 year low of $4.40 and a 1 year high of $7.36. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -14.64 and a beta of 1.77.

Marqeta (NASDAQ:MQ) last posted its earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The company had revenue of $125.30 million for the quarter, compared to analyst estimates of $121.87 million. During the same period last year, the business posted ($0.07) earnings per share. The business’s revenue for the quarter was down 45.8% compared to the same quarter last year. On average, equities research analysts forecast that Marqeta will post 0.06 earnings per share for the current fiscal year.

About Marqeta

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.