Marqeta (NASDAQ:MQ) Now Covered by Wedbush

Equities research analysts at Wedbush assumed coverage on shares of Marqeta (NASDAQ:MQGet Rating) in a research note issued to investors on Wednesday, The Fly reports. The firm set a “neutral” rating and a $8.00 price target on the stock. Wedbush’s price objective would suggest a potential upside of 18.87% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company cut Marqeta from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $11.00 to $7.00 in a research note on Thursday, September 8th. KeyCorp boosted their target price on Marqeta from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, August 11th. Morgan Stanley raised Marqeta from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research note on Tuesday, May 24th. Barclays lowered their target price on Marqeta from $19.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, August 15th. Finally, Citigroup boosted their target price on Marqeta to $14.00 in a research note on Monday, August 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.22.

Marqeta Stock Down 5.5 %

Marqeta stock opened at $6.73 on Wednesday. Marqeta has a 52 week low of $6.05 and a 52 week high of $37.90. The business’s 50-day moving average price is $8.43 and its 200 day moving average price is $9.39. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of -19.79 and a beta of 2.61.

Marqeta (NASDAQ:MQGet Rating) last announced its quarterly earnings data on Wednesday, August 10th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. Marqeta had a negative return on equity of 12.07% and a negative net margin of 29.36%. The firm had revenue of $186.70 million for the quarter, compared to the consensus estimate of $180.14 million. During the same quarter last year, the business posted ($0.29) earnings per share. The firm’s revenue was up 52.7% compared to the same quarter last year. Equities analysts expect that Marqeta will post -0.39 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MQ. Advisors Asset Management Inc. purchased a new position in shares of Marqeta in the 1st quarter worth $38,000. FourThought Financial LLC purchased a new position in shares of Marqeta in the 1st quarter worth $51,000. GPS Wealth Strategies Group LLC purchased a new position in Marqeta in the second quarter valued at about $51,000. Bronson Point Management LLC purchased a new position in Marqeta in the fourth quarter valued at about $52,000. Finally, Captrust Financial Advisors purchased a new position in Marqeta in the first quarter valued at about $53,000. Hedge funds and other institutional investors own 67.04% of the company’s stock.

About Marqeta

(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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