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

Marqeta, Inc. (NASDAQ:MQ) has been assigned a consensus rating of “Hold” from the sixteen analysts that are covering the firm, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $5.82.

Several research firms recently weighed in on MQ. Wells Fargo & Company downgraded Marqeta from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $7.00 to $5.00 in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut Marqeta from a “buy” rating to a “hold” rating and cut their target price for the stock from $9.00 to $4.00 in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods dropped their price target on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a research note on Monday. Barclays restated an “equal weight” rating and set a $4.00 price objective (down from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Finally, William Blair downgraded Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th.

Marqeta Trading Up 0.5 %

Shares of NASDAQ:MQ opened at $3.86 on Wednesday. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 193.00 and a beta of 1.52. Marqeta has a 12 month low of $3.37 and a 12 month high of $7.36. The company has a 50-day moving average price of $4.01 and a 200-day moving average price of $4.79.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The business had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Marqeta’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, research analysts forecast that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Trading of Marqeta

Several institutional investors and hedge funds have recently added to or reduced their stakes in MQ. Visa Foundation purchased a new stake in Marqeta in the 2nd quarter worth $68,197,000. Westfield Capital Management Co. LP boosted its stake in Marqeta by 4.0% during the third quarter. Westfield Capital Management Co. LP now owns 8,333,453 shares of the company’s stock valued at $41,001,000 after buying an additional 319,661 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Marqeta by 5.5% during 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. Alkeon Capital Management LLC increased its stake in Marqeta by 31.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 7,420,663 shares of the company’s stock worth $36,510,000 after acquiring an additional 1,767,845 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Marqeta by 65.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company’s stock worth $14,362,000 after acquiring an additional 1,038,577 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.

About Marqeta

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.