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

Shares of Marqeta, Inc. (NASDAQ:MQ) have received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $7.11.

A number of brokerages recently commented on MQ. JPMorgan Chase & Co. dropped their price target on Marqeta from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Susquehanna reaffirmed a “positive” rating and issued a $9.00 target price on shares of Marqeta in a research report on Tuesday, August 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $5.50 price target on shares of Marqeta in a research report on Monday, June 24th. Wells Fargo & Company upgraded shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective for the company in a report on Tuesday, June 25th. Finally, UBS Group reduced their target price on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

Insider Activity at Marqeta

In other news, Director Martha Cummings sold 40,241 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $5.47, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MQ. Covestor Ltd lifted its holdings in shares of Marqeta by 17,340.0% during the first quarter. Covestor Ltd now owns 4,360 shares of the company’s stock valued at $26,000 after purchasing an additional 4,335 shares in the last quarter. J.Safra Asset Management Corp lifted its stake in Marqeta by 633.2% during the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after acquiring an additional 5,300 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Marqeta by 7,852.8% during the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after acquiring an additional 9,973 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of Marqeta during the 2nd quarter valued at about $61,000. Finally, Empowered Funds LLC bought a new stake in shares of Marqeta in the first quarter worth approximately $65,000. Institutional investors own 78.64% of the company’s stock.

Marqeta Trading Down 0.6 %

MQ stock opened at $5.15 on Monday. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -14.31 and a beta of 1.78. The firm’s 50-day moving average price is $5.22 and its two-hundred day moving average price is $5.46. Marqeta has a 12-month low of $4.40 and a 12-month high of $7.36.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The company had revenue of $125.30 million for the quarter, compared to the consensus estimate of $121.87 million. During the same quarter in the previous year, the business earned ($0.07) EPS. Marqeta’s revenue was down 45.8% compared to the same quarter last year. Equities analysts predict that Marqeta will post 0.06 EPS for the current year.

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.