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

Marqeta, Inc. (NASDAQ:MQ) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, 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 1-year price objective among analysts that have issued a report on the stock in the last year is $7.11.

Several equities analysts have weighed in on MQ shares. Barclays cut their target price on Marqeta from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. William Blair reaffirmed an “outperform” rating on shares of Marqeta in a research report on Wednesday, May 8th. Wedbush reaffirmed a “neutral” rating and set a $6.00 price target on shares of Marqeta in a research report on Wednesday, May 8th. UBS Group dropped their price target on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Susquehanna reaffirmed a “positive” rating and set a $9.00 price target on shares of Marqeta in a research report on Tuesday, August 6th.

Marqeta Stock Down 1.9 %

Marqeta stock opened at $5.21 on Thursday. Marqeta has a 12-month low of $4.40 and a 12-month high of $7.36. The business’s 50-day simple moving average is $5.32 and its 200 day simple moving average is $5.62. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of -14.47 and a beta of 1.78.

Marqeta (NASDAQ:MQ) last released its earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. Marqeta had a negative return on equity of 11.84% and a negative net margin of 32.98%. The firm had revenue of $125.30 million for the quarter, compared to analyst estimates of $121.87 million. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. The company’s quarterly revenue was down 45.8% on a year-over-year basis. As a group, sell-side analysts expect that Marqeta will post 0.01 EPS for the current year.

Insider Activity at Marqeta

In other Marqeta news, Director Martha Cummings sold 40,241 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $5.47, for a total value of $220,118.27. Following the completion of the transaction, the director now directly owns 19,000 shares in the company, valued at $103,930. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Marqeta by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock worth $282,717,000 after acquiring an additional 1,642,621 shares during the period. Visa Foundation bought a new position in shares of Marqeta during the 2nd quarter worth approximately $68,197,000. Dimensional Fund Advisors LP lifted its holdings in Marqeta by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock worth $40,759,000 after purchasing an additional 389,045 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in Marqeta by 27.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock worth $44,216,000 after purchasing an additional 1,604,223 shares during the last quarter. Finally, Capital International Investors lifted its holdings in Marqeta by 203.1% during the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock worth $40,998,000 after purchasing an additional 4,609,526 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

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.