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

Shares of Marqeta, Inc. (NASDAQ:MQ) have been assigned a consensus recommendation of “Reduce” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $20.1250.

A number of equities analysts recently weighed in on MQ shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marqeta in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft lifted their price target on Marqeta from $4.50 to $18.00 and gave the company a “hold” rating in a research note on Thursday. Finally, UBS Group boosted their price target on Marqeta from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th.

Marqeta Stock Performance

Shares of MQ opened at $17.41 on Friday. The firm has a market cap of $1.85 billion, a P/E ratio of 435.36 and a beta of 1.31. Marqeta has a twelve month low of $14.80 and a twelve month high of $28.16. The firm’s 50 day moving average price is $16.14 and its two-hundred day moving average price is $16.82.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. Marqeta had a net margin of 0.33% and a return on equity of 0.27%. The company had revenue of $165.80 million during the quarter, compared to the consensus estimate of $164.30 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. The firm’s revenue was up 19.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Marqeta will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Marqeta

In other Marqeta news, CRO Todd Pollak sold 18,750 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.88, for a total value of $316,500.00. Following the sale, the executive owned 185,008 shares in the company, valued at approximately $3,122,935.04. The trade was a 9.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Elaine Paul sold 4,537 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $15.20, for a total value of $68,962.40. Following the transaction, the director directly owned 8,900 shares of the company’s stock, valued at approximately $135,280. This trade represents a 33.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 27,650 shares of company stock valued at $463,473. 12.61% of the stock is owned by corporate insiders.

Institutional Trading of Marqeta

A number of hedge funds and other institutional investors have recently made changes to their positions in MQ. AQR Capital Management LLC bought a new position in Marqeta in the first quarter valued at $57,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Marqeta by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 279,103 shares of the company’s stock valued at $1,150,000 after buying an additional 9,319 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Marqeta by 7.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,547 shares of the company’s stock worth $3,813,000 after buying an additional 65,313 shares in the last quarter. Intech Investment Management LLC lifted its position in Marqeta by 22.1% during the 1st quarter. Intech Investment Management LLC now owns 288,114 shares of the company’s stock worth $1,187,000 after buying an additional 52,219 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Marqeta by 8.1% during the 2nd quarter. Invesco Ltd. now owns 6,268,848 shares of the company’s stock worth $36,547,000 after buying an additional 471,631 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.