Marqeta, Inc. (NASDAQ:MQ – Get Free Report) has received an average rating of “Hold” from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $5.18.
Several research firms have recently weighed in on MQ. Barclays raised their price objective on shares of Marqeta from $4.00 to $5.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. The Goldman Sachs Group reduced their price objective on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their price objective on shares of Marqeta from $4.00 to $4.50 and gave the company a “market perform” rating in a research report on Thursday, May 8th. UBS Group raised their price objective on shares of Marqeta from $4.75 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. upgraded shares of Marqeta from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $5.00 to $6.00 in a research report on Monday, May 19th.
Get Our Latest Research Report on MQ
Marqeta Stock Up 0.7%
Marqeta (NASDAQ:MQ – Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) 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 analyst estimates of $135.66 million. Marqeta had a net margin of 10.43% and a return on equity of 5.11%. Marqeta’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) EPS. Equities analysts forecast that Marqeta will post 0.06 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in MQ. Price T Rowe Associates Inc. MD boosted its holdings in shares of Marqeta by 126.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,097,173 shares of the company’s stock worth $169,322,000 after buying an additional 22,928,070 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Marqeta in the fourth quarter worth approximately $72,879,000. RPD Fund Management LLC purchased a new stake in shares of Marqeta in the fourth quarter worth approximately $37,289,000. Wellington Management Group LLP purchased a new stake in shares of Marqeta in the fourth quarter worth approximately $19,717,000. Finally, North Reef Capital Management LP lifted its position in shares of Marqeta by 99.7% in the fourth quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company’s stock worth $29,513,000 after purchasing an additional 3,886,999 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.
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.
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