Marqeta (NASDAQ:MQ) Shares Gap Down – What’s Next?

Marqeta, Inc. (NASDAQ:MQ)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $3.84, but opened at $3.62. Marqeta shares last traded at $3.74, with a volume of 738,980 shares traded.

Analyst Ratings Changes

MQ has been the subject of a number of research analyst reports. Wells Fargo & Company downgraded shares of Marqeta from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $7.00 to $5.00 in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods cut their price objective on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a research report on Monday, January 6th. KeyCorp downgraded shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft downgraded shares of Marqeta from a “buy” rating to a “hold” rating and cut their price objective for the company from $9.00 to $4.00 in a research report on Tuesday, November 5th. Finally, Barclays reissued an “equal weight” rating and set a $4.00 price objective (down previously from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.82.

Marqeta Trading Down 4.4 %

The firm has a market cap of $1.84 billion, a PE ratio of 183.50 and a beta of 1.52. The firm’s 50 day simple moving average is $3.90 and its 200 day simple moving average is $4.76.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $128.05 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.07) EPS. As a group, equities research analysts predict that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Marqeta

A number of large investors have recently made changes to their positions in MQ. 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 worth $36,510,000 after buying an additional 1,767,845 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Marqeta by 263.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company’s stock worth $6,499,000 after buying an additional 956,992 shares during the last quarter. Barclays PLC increased its holdings in shares of Marqeta by 226.4% in the 3rd quarter. Barclays PLC now owns 861,414 shares of the company’s stock worth $4,238,000 after buying an additional 597,539 shares during the last quarter. Nordea Investment Management AB grew its holdings in Marqeta by 107.8% during the 4th quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock valued at $3,265,000 after purchasing an additional 441,617 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew 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 valued at $40,759,000 after purchasing an additional 389,045 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.