Marqeta (NASDAQ:MQ) PT Raised to $11.00

Marqeta (NASDAQ:MQGet Rating) had its price target increased by analysts at KeyCorp from $10.00 to $11.00 in a note issued to investors on Monday, Marketbeat.com reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 3.00% from the stock’s current price.

A number of other analysts have also recently commented on MQ. Piper Sandler began coverage on shares of Marqeta in a report on Thursday, April 14th. They set an “overweight” rating and a $13.00 target price on the stock. Morgan Stanley upgraded shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a report on Tuesday, May 24th. Mizuho dropped their target price on shares of Marqeta from $17.00 to $12.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Truist Financial dropped their price target on shares of Marqeta from $20.00 to $16.00 in a research note on Thursday, May 12th. Finally, Wells Fargo & Company assumed coverage on shares of Marqeta in a research note on Monday, April 4th. They issued an “overweight” rating and a $15.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Marqeta presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.10.

Marqeta Stock Up 6.4 %

NASDAQ:MQ opened at $10.68 on Monday. The stock has a market cap of $5.80 billion, a P/E ratio of -19.42 and a beta of 2.59. The firm’s fifty day simple moving average is $9.48 and its 200 day simple moving average is $10.11. Marqeta has a twelve month low of $6.05 and a twelve month high of $37.90.

Marqeta (NASDAQ:MQGet Rating) last released its quarterly earnings results on Wednesday, May 11th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The company had revenue of $166.10 million during the quarter, compared to the consensus estimate of $161.01 million. Marqeta had a negative net margin of 36.80% and a negative return on equity of 13.49%. On average, analysts expect that Marqeta will post -0.42 EPS for the current fiscal year.

Insider Activity

In other Marqeta news, insider Seth R. Weissman sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $9.50, for a total value of $950,000.00. Following the completion of the transaction, the insider now directly owns 6,157 shares in the company, valued at approximately $58,491.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MQ. ZWJ Investment Counsel Inc. raised its holdings in Marqeta by 684.5% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 166,110 shares of the company’s stock valued at $1,347,000 after buying an additional 144,935 shares during the period. Jennison Associates LLC purchased a new stake in Marqeta during the 2nd quarter valued at $547,000. Xponance Inc. purchased a new stake in Marqeta during the 2nd quarter valued at $189,000. Brown Advisory Inc. raised its holdings in Marqeta by 0.7% during the 2nd quarter. Brown Advisory Inc. now owns 2,609,801 shares of the company’s stock valued at $21,165,000 after buying an additional 17,557 shares during the period. Finally, Victory Capital Management Inc. purchased a new stake in Marqeta during the 2nd quarter valued at $14,584,000. 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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