Marqeta (NASDAQ:MQ) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Marqeta, Inc. (NASDAQ:MQ) saw unusually-high trading volume on Wednesday . Approximately 15,111,802 shares were traded during trading, an increase of 207% from the previous session’s volume of 4,920,865 shares.The stock last traded at $3.57 and had previously closed at $3.42.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. KeyCorp downgraded shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday. Susquehanna reduced their target price on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a report on Tuesday. Wells Fargo & Company cut shares of Marqeta from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $7.00 to $5.00 in a research report on Tuesday. Keefe, Bruyette & Woods cut their target price on Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Marqeta currently has an average rating of “Hold” and a consensus target price of $6.27.

Marqeta Trading Up 11.1 %

The firm has a 50-day simple moving average of $5.11 and a two-hundred day simple moving average of $5.29. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 190.00 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $128.05 million. Marqeta had a return on equity of 1.17% and a net margin of 2.86%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) EPS. Equities research analysts anticipate that Marqeta, Inc. will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Marqeta

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Marqeta by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock worth $282,717,000 after purchasing an additional 1,642,621 shares during the last quarter. Visa Foundation acquired a new position in Marqeta during the second quarter worth $68,197,000. Dimensional Fund Advisors LP grew its holdings in Marqeta by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock valued at $40,759,000 after buying an additional 389,045 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Marqeta by 27.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock worth $44,216,000 after acquiring an additional 1,604,223 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Marqeta by 203.1% during the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock worth $40,998,000 after acquiring an additional 4,609,526 shares during the period. 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.