Marqeta, Inc. (NASDAQ:MQ) Given Average Rating of “Reduce” by Brokerages

Shares of Marqeta, Inc. (NASDAQ:MQ) have received an average recommendation of “Reduce” from the eleven research firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $5.50.

MQ has been the subject of a number of research analyst reports. Wolfe Research cut Marqeta from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Citigroup raised Marqeta to a “hold” rating in a report on Thursday, October 23rd. Mizuho reaffirmed a “neutral” rating and issued a $4.50 price objective (down from $8.00) on shares of Marqeta in a report on Thursday, January 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Marqeta from $6.00 to $5.50 and set a “market perform” rating for the company in a research report on Friday, January 2nd.

Marqeta Stock Up 0.5%

NASDAQ:MQ opened at $4.03 on Thursday. The stock’s 50 day moving average price is $4.66 and its two-hundred day moving average price is $5.16. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -50.38 and a beta of 1.48. Marqeta has a 12-month low of $3.47 and a 12-month high of $7.04.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $163.31 million during the quarter, compared to analysts’ expectations of $148.37 million. Marqeta had a negative net margin of 6.74% and a negative return on equity of 4.22%. The company’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.06) earnings per share. Equities research analysts expect that Marqeta will post 0.06 EPS for the current year.

Insider Activity

In related news, Director Jason M. Gardner sold 69,043 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $5.00, for a total transaction of $345,215.00. Following the completion of the sale, the director owned 293,334 shares of the company’s stock, valued at $1,466,670. This represents a 19.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 218,509 shares of company stock worth $1,092,545. Corporate insiders own 12.61% of the company’s stock.

Institutional Trading of Marqeta

Institutional investors and hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership acquired a new position in Marqeta during the second quarter worth about $44,463,000. Wellington Management Group LLP grew its holdings in shares of Marqeta by 51.9% during the 3rd quarter. Wellington Management Group LLP now owns 11,798,274 shares of the company’s stock valued at $62,295,000 after purchasing an additional 4,029,486 shares during the last quarter. Marshall Wace LLP increased its position in Marqeta by 694.3% during the 3rd quarter. Marshall Wace LLP now owns 2,338,737 shares of the company’s stock worth $12,349,000 after purchasing an additional 2,044,290 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Marqeta by 1,224.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,897,823 shares of the company’s stock valued at $11,064,000 after purchasing an additional 1,754,539 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in Marqeta by 181.2% in the 3rd quarter. Voloridge Investment Management LLC now owns 2,470,202 shares of the company’s stock valued at $13,043,000 after purchasing an additional 1,591,801 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

Marqeta Company Profile

Marqeta is a modern card issuing and payment processing platform that enables businesses to design, launch and manage customized payment cards. The company offers a fully programmable open API that allows clients to create virtual, physical and tokenized payment cards with real-time transaction controls and dynamic spend limits. By leveraging Marqeta’s infrastructure, companies can streamline their payment operations, reduce time to market and deliver tailored payment experiences to end consumers.

Founded in 2010 and headquartered in Oakland, California, Marqeta was established by CEO Jason Gardner with the goal of transforming traditional card issuance through cloud-native technology.