Marqeta (NASDAQ:MQ) Given New $7.00 Price Target at Susquehanna

Marqeta (NASDAQ:MQ) had its price objective dropped by equities research analysts at Susquehanna from $9.00 to $7.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 84.21% from the stock’s current price.

A number of other analysts have also recently commented on the stock. KeyCorp cut shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded Marqeta from a “buy” rating to a “hold” rating and lowered their price target for the stock from $9.00 to $4.00 in a report on Tuesday. JPMorgan Chase & Co. cut their price objective on Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Keefe, Bruyette & Woods decreased their price objective on Marqeta from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Monday, July 8th. Finally, Wells Fargo & Company downgraded shares of Marqeta from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $7.00 to $5.00 in a report on Tuesday. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.27.

Marqeta Trading Up 11.1 %

Marqeta stock opened at $3.80 on Tuesday. The firm has a market capitalization of $1.93 billion, a P/E ratio of 190.00 and a beta of 1.73. The business has a 50-day moving average of $5.11 and a 200-day moving average of $5.29. Marqeta has a 1 year low of $3.37 and a 1 year high of $7.36.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.17%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) EPS. Research analysts anticipate that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Trading of Marqeta

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its position in Marqeta by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock worth $281,000 after acquiring an additional 3,979 shares in the last quarter. Empowered Funds LLC acquired a new stake in Marqeta in the 1st quarter valued at about $65,000. Swiss National Bank grew its holdings in Marqeta by 4.6% during the first quarter. Swiss National Bank now owns 784,700 shares of the company’s stock worth $4,677,000 after purchasing an additional 34,300 shares during the period. Russell Investments Group Ltd. increased its position in Marqeta by 7,852.8% during the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after buying an additional 9,973 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Marqeta by 6.6% in the first quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock valued at $505,000 after buying an additional 5,257 shares during the period. Institutional investors own 78.64% of the company’s stock.

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.