Marqeta, Inc. (NASDAQ:MQ) Receives Average Rating of “Reduce” from Analysts

Marqeta, Inc. (NASDAQ:MQ) has been assigned an average rating of “Reduce” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $5.1389.

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods decreased their price target on Marqeta from $6.00 to $5.50 and set a “market perform” rating on the stock in a research report on Friday, January 2nd. JPMorgan Chase & Co. began coverage on Marqeta in a report on Tuesday, February 17th. They set an “overweight” rating and a $6.00 target price on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a research note on Monday, December 29th. UBS Group cut their price target on Marqeta from $5.00 to $4.25 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Finally, Zacks Research lowered shares of Marqeta from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th.

Marqeta Stock Performance

MQ opened at $3.84 on Monday. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -128.00 and a beta of 1.48. The firm’s 50-day simple moving average is $4.40 and its 200-day simple moving average is $4.93. Marqeta has a twelve month low of $3.47 and a twelve month high of $7.04.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.00 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.01. The firm had revenue of $172.11 million for the quarter, compared to analysts’ expectations of $167.05 million. Marqeta had a negative net margin of 2.23% and a negative return on equity of 1.62%. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) earnings per share. As a group, sell-side analysts anticipate that Marqeta will post 0.06 EPS for the current fiscal year.

Insider Activity at Marqeta

In other news, Director Jason M. Gardner sold 69,043 shares of the stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $5.00, for a total transaction of $345,215.00. Following the sale, the director directly 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 Securities & Exchange Commission, which is available through this link. Insiders have sold 218,509 shares of company stock worth $1,092,545 over the last quarter. 12.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC bought a new position in Marqeta in the 1st quarter valued at $57,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Marqeta by 3.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 279,103 shares of the company’s stock valued at $1,150,000 after acquiring an additional 9,319 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Marqeta by 7.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,547 shares of the company’s stock valued at $3,813,000 after acquiring an additional 65,313 shares during the last quarter. Intech Investment Management LLC increased its position in Marqeta by 22.1% in the first quarter. Intech Investment Management LLC now owns 288,114 shares of the company’s stock worth $1,187,000 after purchasing an additional 52,219 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in Marqeta by 61.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company’s stock worth $57,000 after purchasing an additional 3,737 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

About Marqeta

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.