Marqeta Target of Unusually High Options Trading (NASDAQ:MQ)

Marqeta, Inc. (NASDAQ:MQGet Rating) saw unusually large options trading on Thursday. Traders purchased 13,745 call options on the stock. This represents an increase of 47% compared to the typical daily volume of 9,364 call options.

Insider Buying and Selling

In other Marqeta news, insider Seth R. Weissman sold 100,000 shares of the business’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $9.50, for a total transaction of $950,000.00. Following the transaction, the insider now owns 6,157 shares of the company’s stock, valued at $58,491.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of Marqeta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MQ. Advisors Asset Management Inc. bought a new position in shares of Marqeta during the 1st quarter worth about $38,000. FourThought Financial LLC acquired a new position in Marqeta in the 1st quarter valued at approximately $51,000. GPS Wealth Strategies Group LLC bought a new stake in shares of Marqeta in the 2nd quarter worth approximately $51,000. Bronson Point Management LLC bought a new stake in shares of Marqeta during the fourth quarter valued at approximately $52,000. Finally, Captrust Financial Advisors acquired a new position in shares of Marqeta in the first quarter valued at $53,000. Institutional investors and hedge funds own 50.31% of the company’s stock.

Wall Street Analysts Forecast Growth

MQ has been the topic of several analyst reports. Morgan Stanley raised shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a report on Tuesday, May 24th. KeyCorp lifted their price target on Marqeta from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, August 1st. Credit Suisse Group initiated coverage on Marqeta in a report on Tuesday, May 3rd. They issued an “outperform” rating and a $13.50 price objective on the stock. Truist Financial dropped their target price on shares of Marqeta from $20.00 to $16.00 in a research report on Thursday, May 12th. Finally, UBS Group initiated coverage on Marqeta in a research report on Tuesday, June 7th. They issued a “buy” rating and a $14.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Marqeta has a consensus rating of “Moderate Buy” and a consensus target price of $16.10.

Marqeta Stock Down 3.6 %

NASDAQ MQ opened at $10.57 on Friday. The stock has a market capitalization of $5.74 billion, a PE ratio of -19.22 and a beta of 2.59. Marqeta has a 12-month low of $6.05 and a 12-month high of $37.90. The company has a 50 day moving average price of $9.53 and a two-hundred day moving average price of $10.10.

Marqeta (NASDAQ:MQGet Rating) last announced its quarterly earnings results on Wednesday, May 11th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Marqeta had a negative return on equity of 13.49% and a negative net margin of 36.80%. The company had revenue of $166.10 million during the quarter, compared to analyst estimates of $161.01 million. As a group, equities analysts anticipate that Marqeta will post -0.42 EPS for the current year.

Marqeta Company Profile

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Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions.

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