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

Shares of Marqeta, Inc. (NASDAQ:MQ) have been given an average recommendation of “Reduce” by the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $5.2188.

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marqeta in a research report on Friday, March 27th. Morgan Stanley dropped their price target on Marqeta from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. JPMorgan Chase & Co. began coverage on Marqeta in a research note on Tuesday, February 17th. They set an “overweight” rating and a $6.00 price target on the stock. Finally, UBS Group boosted their price target on Marqeta from $4.25 to $4.75 and gave the company a “neutral” rating in a research note on Wednesday, May 6th.

Insiders Place Their Bets

In other news, Director Elaine Paul sold 17,452 shares of the company’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $4.47, for a total value of $78,010.44. Following the sale, the director owned 17,453 shares in the company, valued at $78,014.91. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.61% of the company’s stock.

Institutional Trading of Marqeta

A number of hedge funds have recently modified their holdings of MQ. Quarry LP purchased a new stake in shares of Marqeta in the third quarter worth about $26,000. Western Wealth Management LLC purchased a new stake in shares of Marqeta in the first quarter worth about $27,000. EFG International AG purchased a new stake in shares of Marqeta in the fourth quarter worth about $27,000. CWM LLC boosted its stake in shares of Marqeta by 82.2% in the fourth quarter. CWM LLC now owns 6,254 shares of the company’s stock worth $30,000 after buying an additional 2,821 shares during the last quarter. Finally, Leonteq Securities AG purchased a new stake in shares of Marqeta in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $3.97 on Wednesday. The business’s 50-day moving average is $4.08 and its 200 day moving average is $4.30. Marqeta has a 1 year low of $3.70 and a 1 year high of $7.04. The firm has a market capitalization of $1.68 billion, a P/E ratio of 397.40 and a beta of 1.32.

Marqeta (NASDAQ:MQ) last announced its earnings results on Tuesday, May 5th. The company reported $0.02 earnings per share (EPS) for the quarter. Marqeta had a return on equity of 0.27% and a net margin of 0.33%.The company had revenue of $165.80 million for the quarter, compared to analyst estimates of $164.30 million. During the same period in the prior year, the company posted ($0.02) EPS. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. On average, analysts expect that Marqeta will post 0.04 EPS for the current year.

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.