Brokerages Set Marqeta, Inc. (NASDAQ:MQ) Target Price at $5.29

Marqeta, Inc. (NASDAQ:MQ) has been assigned a consensus recommendation of “Hold” from the thirteen research firms that are covering the stock, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $5.00.

A number of research analysts recently issued reports on the company. UBS Group raised their price target on Marqeta from $4.75 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday. The Goldman Sachs Group lowered their target price on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their price target on shares of Marqeta from $4.00 to $4.50 and gave the stock a “market perform” rating in a research note on Thursday. Finally, Wells Fargo & Company dropped their price objective on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th.

Hedge Funds Weigh In On Marqeta

A number of large investors have recently modified their holdings of MQ. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Marqeta in the fourth quarter valued at approximately $72,879,000. Price T Rowe Associates Inc. MD lifted its holdings in Marqeta by 5,396.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company’s stock valued at $68,862,000 after acquiring an additional 17,838,535 shares during the period. Geode Capital Management LLC boosted its position in shares of Marqeta by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company’s stock worth $41,819,000 after purchasing an additional 318,184 shares in the last quarter. RPD Fund Management LLC acquired a new position in shares of Marqeta during the 4th quarter worth $37,289,000. Finally, North Reef Capital Management LP increased its holdings in shares of Marqeta by 99.7% in the 4th quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company’s stock valued at $29,513,000 after purchasing an additional 3,886,999 shares in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Trading Up 9.7 %

Shares of NASDAQ:MQ opened at $4.49 on Tuesday. The firm has a 50 day simple moving average of $4.06 and a 200-day simple moving average of $4.03. Marqeta has a twelve month low of $3.37 and a twelve month high of $6.01. The company has a market capitalization of $2.26 billion, a PE ratio of 224.25 and a beta of 1.41.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $139.07 million during the quarter, compared to analysts’ expectations of $135.66 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. Marqeta’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) earnings per share. As a group, equities research analysts predict that Marqeta will post 0.06 EPS for the current fiscal 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.