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

Marqeta, Inc. (NASDAQ:MQ) has earned a consensus rating of “Reduce” from the twelve ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $5.1389.

A number of equities analysts recently commented on MQ shares. Mizuho restated a “neutral” rating and set a $4.50 target price (down from $8.00) on shares of Marqeta in a report on Thursday, January 8th. UBS Group cut their price target on shares of Marqeta from $5.00 to $4.25 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Keefe, Bruyette & Woods reduced their price objective on shares of Marqeta from $6.00 to $5.50 and set a “market perform” rating on the stock in a research report on Friday, January 2nd. Wolfe Research lowered shares of Marqeta from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Finally, Morgan Stanley dropped their target price on shares of Marqeta from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 25th.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $4.16 on Friday. The stock’s 50-day moving average is $4.13 and its 200 day moving average is $4.66. The company has a market cap of $1.78 billion, a PE ratio of -138.67 and a beta of 1.48. Marqeta has a 1 year low of $3.47 and a 1 year high of $7.04.

Marqeta (NASDAQ:MQ) last released 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 business had revenue of $172.11 million during the quarter, compared to analysts’ expectations of $167.05 million. Marqeta had a negative return on equity of 1.62% and a negative net margin of 2.23%.The business’s revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) EPS. Analysts expect that Marqeta will post 0.06 EPS for the current fiscal year.

Insider Transactions at Marqeta

In related news, Director Judson C. Linville acquired 25,570 shares of the stock in a transaction on Friday, February 27th. The stock was acquired at an average cost of $3.93 per share, for a total transaction of $100,490.10. Following the completion of the acquisition, the director directly owned 104,220 shares of the company’s stock, valued at approximately $409,584.60. This represents a 32.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Certuity LLC raised its position in shares of Marqeta by 22.3% in the 3rd quarter. Certuity LLC now owns 14,235 shares of the company’s stock worth $75,000 after acquiring an additional 2,596 shares in the last quarter. Mariner LLC boosted its position in shares of Marqeta by 4.2% during the fourth quarter. Mariner LLC now owns 66,765 shares of the company’s stock valued at $317,000 after purchasing an additional 2,670 shares in the last quarter. Victory Capital Management Inc. grew its stake in Marqeta by 2.7% in the third quarter. Victory Capital Management Inc. now owns 101,567 shares of the company’s stock worth $536,000 after purchasing an additional 2,711 shares during the period. CWM LLC grew its stake in Marqeta by 82.2% in the fourth quarter. CWM LLC now owns 6,254 shares of the company’s stock worth $30,000 after purchasing an additional 2,821 shares during the period. Finally, Jasper Ridge Partners L.P. raised its holdings in Marqeta by 3.1% in the second quarter. Jasper Ridge Partners L.P. now owns 95,244 shares of the company’s stock worth $555,000 after purchasing an additional 2,839 shares in the last quarter. Hedge funds and other institutional investors 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.