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

Shares of Marqeta, Inc. (NASDAQ:MQ) have earned an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $7.57.

Several research analysts have recently commented on MQ shares. Keefe, Bruyette & Woods increased their price objective on Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Friday, March 1st. Truist Financial reiterated a “buy” rating and issued a $10.00 price objective (up from $9.00) on shares of Marqeta in a research note on Thursday, February 29th. Bank of America upgraded Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Monday, February 12th. Wells Fargo & Company increased their price objective on Marqeta from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Barclays increased their price objective on Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th.

Institutional Investors Weigh In On Marqeta

Institutional investors have recently added to or reduced their stakes in the business. Profund Advisors LLC purchased a new stake in Marqeta in the 3rd quarter valued at approximately $62,000. SVB Wealth LLC purchased a new stake in Marqeta in the 4th quarter valued at approximately $70,000. Horizon Family Wealth Inc. purchased a new stake in Marqeta in the 3rd quarter valued at approximately $73,000. Blueshift Asset Management LLC purchased a new stake in Marqeta in the 4th quarter valued at approximately $86,000. Finally, Essex Investment Management Co. LLC boosted its holdings in Marqeta by 27.7% in the 3rd quarter. Essex Investment Management Co. LLC now owns 15,433 shares of the company’s stock valued at $92,000 after purchasing an additional 3,349 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Stock Performance

Shares of Marqeta stock opened at $5.36 on Friday. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -12.76 and a beta of 1.84. Marqeta has a fifty-two week low of $3.74 and a fifty-two week high of $7.36. The stock has a 50 day moving average of $6.00 and a 200 day moving average of $6.06.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The company had revenue of $118.82 million during the quarter, compared to analyst estimates of $110.80 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The firm’s revenue for the quarter was down 41.7% compared to the same quarter last year. Analysts forecast that Marqeta will post -0.35 EPS for the current year.

Marqeta Company Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.