Marqeta (NASDAQ:MQ) Now Covered by Analysts at UBS Group

Investment analysts at UBS Group started coverage on shares of Marqeta (NASDAQ:MQGet Rating) in a report released on Tuesday, The Fly reports. The firm set a “buy” rating on the stock.

MQ has been the subject of several other research reports. KeyCorp decreased their price target on shares of Marqeta from $15.00 to $10.00 in a research note on Thursday, May 12th. Wells Fargo & Company assumed coverage on shares of Marqeta in a research note on Monday, April 4th. They set an “overweight” rating and a $15.00 price target for the company. Credit Suisse Group assumed coverage on shares of Marqeta in a research note on Tuesday, May 3rd. They set an “outperform” rating and a $13.50 price target for the company. Loop Capital decreased their price target on shares of Marqeta from $19.00 to $13.00 in a research note on Thursday, March 10th. Finally, Mizuho reduced their price objective on shares of Marqeta from $17.00 to $12.00 and set a “na” rating for the company in a research note on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Marqeta presently has a consensus rating of “Buy” and an average target price of $18.68.

MQ opened at $11.57 on Tuesday. The firm has a market cap of $6.28 billion and a P/E ratio of -21.04. Marqeta has a 12 month low of $6.05 and a 12 month high of $37.90. The stock has a 50-day moving average of $10.05 and a 200 day moving average of $12.50.

Marqeta (NASDAQ:MQGet Rating) last announced its earnings results on Wednesday, March 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.02. Marqeta had a negative return on equity of 13.49% and a negative net margin of 36.80%. The business had revenue of $155.41 million during the quarter, compared to analyst estimates of $137.79 million. The business’s revenue for the quarter was up 76.2% compared to the same quarter last year. Analysts predict that Marqeta will post -0.42 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the business. Verition Fund Management LLC boosted its stake in shares of Marqeta by 114.9% during the 1st quarter. Verition Fund Management LLC now owns 32,241 shares of the company’s stock worth $356,000 after acquiring an additional 17,241 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Marqeta by 349.7% during the 1st quarter. Capital Research Global Investors now owns 37,142,171 shares of the company’s stock worth $410,050,000 after acquiring an additional 28,882,196 shares in the last quarter. Capital International Investors purchased a new stake in shares of Marqeta during the 1st quarter worth about $18,253,000. Baader Bank INC boosted its stake in shares of Marqeta by 50.7% during the 1st quarter. Baader Bank INC now owns 520,373 shares of the company’s stock worth $5,745,000 after acquiring an additional 175,000 shares in the last quarter. Finally, Advisors Asset Management Inc. purchased a new stake in shares of Marqeta during the 1st quarter worth about $38,000. 50.31% of the stock is currently owned by institutional investors.

Marqeta Company Profile (Get Rating)

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions.

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