Brokerages Set Marqeta, Inc. (NASDAQ:MQ) Price Target at $6.03

Marqeta, Inc. (NASDAQ:MQGet Free Report) has received an average recommendation of “Hold” from the sixteen brokerages that are currently covering the stock, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $6.03.

MQ has been the subject of a number of analyst reports. KeyCorp lowered Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods lowered their price target on Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company downgraded shares of Marqeta from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $7.00 to $5.00 in a report on Tuesday, November 5th. Morgan Stanley cut their target price on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Finally, William Blair cut Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th.

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Marqeta Price Performance

Shares of Marqeta stock opened at $3.86 on Wednesday. Marqeta has a 1 year low of $3.37 and a 1 year high of $7.36. The company has a 50-day moving average of $4.09 and a 200 day moving average of $4.81. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 193.00 and a beta of 1.54.

Marqeta (NASDAQ:MQGet Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the business earned ($0.07) earnings per share. On average, equities analysts anticipate that Marqeta will post 0.06 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Visa Foundation purchased a new stake in shares of Marqeta during the 2nd quarter valued at approximately $68,197,000. Westfield Capital Management Co. LP lifted its stake in Marqeta by 4.0% in the third 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 increased its holdings in Marqeta by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock valued at $40,759,000 after buying an additional 389,045 shares during the last quarter. Alkeon Capital Management LLC increased its holdings in shares of Marqeta by 31.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 7,420,663 shares of the company’s stock valued at $36,510,000 after acquiring an additional 1,767,845 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Marqeta by 65.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company’s stock worth $14,362,000 after buying an additional 1,038,577 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Company Profile

(Get Free Report

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.

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Analyst Recommendations for Marqeta (NASDAQ:MQ)

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