Marqeta, Inc. (NASDAQ:MQ) Receives $6.27 Average PT from Brokerages

Shares of Marqeta, Inc. (NASDAQ:MQ) have earned a consensus recommendation of “Hold” from the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $6.27.

Several research firms recently weighed in on MQ. Wells Fargo & Company cut shares of Marqeta from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $7.00 to $5.00 in a report on Tuesday, November 5th. Mizuho cut their target price on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley reduced their price target on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Monness Crespi & Hardt lowered shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. reduced their target price on Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th.

Marqeta Trading Down 0.8 %

MQ stock opened at $3.93 on Tuesday. The firm’s 50-day moving average price is $4.91 and its two-hundred day moving average price is $5.20. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 196.50 and a beta of 1.73. Marqeta has a 12-month low of $3.37 and a 12-month high of $7.36.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) EPS. Equities analysts predict that Marqeta will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Marqeta

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Marqeta by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock valued at $282,717,000 after purchasing an additional 1,642,621 shares in the last quarter. Visa Foundation bought a new stake in shares of Marqeta during the second quarter valued at approximately $68,197,000. Westfield Capital Management Co. LP raised its holdings in Marqeta by 4.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 8,333,453 shares of the company’s stock worth $41,001,000 after acquiring an additional 319,661 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Marqeta by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock valued at $40,759,000 after acquiring an additional 389,045 shares in the last quarter. Finally, Alkeon Capital Management LLC boosted its stake in Marqeta by 31.3% during the 3rd quarter. Alkeon Capital Management LLC now owns 7,420,663 shares of the company’s stock valued at $36,510,000 after purchasing an additional 1,767,845 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

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.