Marqeta Sees Unusually High Options Volume (NASDAQ:MQ)

Marqeta, Inc. (NASDAQ:MQ) was the recipient of some unusual options trading activity on Thursday. Stock investors acquired 8,064 call options on the company. This is an increase of 134% compared to the average daily volume of 3,450 call options.

Marqeta Stock Down 1.6 %

NASDAQ:MQ opened at $4.18 on Friday. The firm has a market cap of $2.10 billion, a PE ratio of 209.00 and a beta of 1.52. Marqeta has a 12 month low of $3.37 and a 12 month high of $6.98. The company’s 50-day moving average price is $3.78 and its two-hundred day moving average price is $4.39.

Marqeta (NASDAQ:MQ) last announced its earnings results on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate 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, research analysts expect that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Trading of Marqeta

Several large investors have recently made changes to their positions in MQ. Arizona State Retirement System increased its holdings in shares of Marqeta by 2.5% in the fourth quarter. Arizona State Retirement System now owns 116,397 shares of the company’s stock valued at $441,000 after purchasing an additional 2,860 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Marqeta by 7.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 46,670 shares of the company’s stock valued at $174,000 after buying an additional 3,155 shares during the period. Xponance Inc. raised its position in shares of Marqeta by 11.5% during the fourth quarter. Xponance Inc. now owns 34,314 shares of the company’s stock worth $130,000 after acquiring an additional 3,546 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of Marqeta by 0.7% during the third quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock valued at $2,402,000 after acquiring an additional 3,627 shares during the period. Finally, Summit Investment Advisors Inc. boosted its holdings in Marqeta by 8.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 49,615 shares of the company’s stock valued at $188,000 after acquiring an additional 3,938 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Barclays reissued an “equal weight” rating and set a $4.00 price objective (down previously from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Monness Crespi & Hardt cut Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective on the stock. in a research report on Tuesday, November 5th. William Blair cut Marqeta from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Finally, Mizuho lowered their price target on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.33.

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.