Marqeta (NASDAQ:MQ) Price Target Raised to $4.50

Marqeta (NASDAQ:MQ) had its target price hoisted by equities research analysts at The Goldman Sachs Group from $4.00 to $4.50 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 6.76% from the company’s previous close.

A number of other equities analysts have also recently commented on MQ. KeyCorp cut Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Susquehanna reduced their price target on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. William Blair downgraded shares of Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Mizuho cut their price target on Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, Morgan Stanley decreased their target price on Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.69.

Marqeta Price Performance

NASDAQ:MQ traded up $0.71 during trading hours on Thursday, reaching $4.22. 11,227,810 shares of the company were exchanged, compared to its average volume of 4,727,952. The business has a 50 day moving average of $3.76 and a 200 day moving average of $4.40. The company has a market capitalization of $2.12 billion, a P/E ratio of 210.75 and a beta of 1.52. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.36.

Marqeta (NASDAQ:MQ) last issued its earnings results on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.05. The company had revenue of $135.79 million during the quarter, compared to analysts’ expectations of $132.71 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. As a group, equities research analysts anticipate that Marqeta will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Marqeta

A number of institutional investors and hedge funds have recently modified their holdings of the business. Congress Asset Management Co. grew its stake in Marqeta by 46.8% in the 3rd quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock valued at $5,194,000 after purchasing an additional 336,349 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Marqeta by 107.0% during the third quarter. Harbor Capital Advisors Inc. now owns 248,968 shares of the company’s stock worth $1,225,000 after buying an additional 128,717 shares during the last quarter. Olympiad Research LP bought a new stake in Marqeta in the third quarter worth about $113,000. Atria Investments Inc boosted its stake in Marqeta by 32.7% in the third quarter. Atria Investments Inc now owns 37,485 shares of the company’s stock valued at $184,000 after acquiring an additional 9,235 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Marqeta by 6.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 370,070 shares of the company’s stock valued at $1,821,000 after acquiring an additional 23,729 shares during the period. 78.64% of the stock is owned by hedge funds and other institutional investors.

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.