Marqeta, Inc. (NASDAQ:MQ) Receives $5.33 Average Price Target from Brokerages

Marqeta, Inc. (NASDAQ:MQ) has received an average rating of “Hold” from the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $5.33.

A number of equities research analysts recently weighed in on MQ shares. Barclays reissued an “equal weight” rating and set a $4.00 target price (down from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods decreased their target price on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group lifted their target price on Marqeta from $4.00 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company cut their price target on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. bought a new position in shares of Marqeta in the fourth quarter valued at approximately $72,879,000. Price T Rowe Associates Inc. MD raised its position in Marqeta by 5,396.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company’s stock worth $68,862,000 after purchasing an additional 17,838,535 shares during the last quarter. Geode Capital Management LLC raised its position in Marqeta by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company’s stock worth $41,819,000 after purchasing an additional 318,184 shares during the last quarter. RPD Fund Management LLC bought a new position in Marqeta in the 4th quarter worth approximately $37,289,000. Finally, Westfield Capital Management Co. LP raised its position 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 purchasing an additional 319,661 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

Marqeta Stock Up 1.3 %

MQ stock opened at $4.57 on Monday. Marqeta has a twelve month low of $3.37 and a twelve month high of $6.44. The company has a market cap of $2.30 billion, a PE ratio of 228.50 and a beta of 1.49. The business’s 50-day simple moving average is $3.87 and its 200 day simple moving average is $4.27.

Marqeta (NASDAQ:MQ) last released its earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The business had revenue of $135.79 million for the quarter, compared to the consensus estimate of $132.71 million. On average, equities research analysts anticipate that Marqeta will post 0.06 EPS for the current year.

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.