Marqeta (NASDAQ:MQ) Price Target Raised to $9.00 at Truist Financial

Marqeta (NASDAQ:MQ) had its price target increased by analysts at Truist Financial from $8.00 to $9.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 46.58% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Morgan Stanley raised their price objective on Marqeta from $4.50 to $5.00 and gave the company an “equal weight” rating in a research note on Thursday, November 16th. Wells Fargo & Company initiated coverage on Marqeta in a research report on Tuesday, October 31st. They issued an “equal weight” rating and a $6.00 price objective for the company. Berenberg Bank raised shares of Marqeta from a “hold” rating to a “buy” rating and lifted their target price for the stock from $5.00 to $8.00 in a research note on Wednesday, August 9th. Barclays increased their price target on shares of Marqeta from $6.00 to $7.00 and gave the company an “overweight” rating in a research report on Monday, August 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Marqeta in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $6.75.

Marqeta Stock Up 1.8 %

Shares of Marqeta stock traded up $0.11 during trading on Tuesday, reaching $6.14. The company’s stock had a trading volume of 2,343,194 shares, compared to its average volume of 5,747,874. The company has a market cap of $3.20 billion, a price-to-earnings ratio of -15.74 and a beta of 1.72. The firm’s 50-day moving average is $5.77 and its two-hundred day moving average is $5.38. Marqeta has a 52-week low of $3.46 and a 52-week high of $7.51.

Hedge Funds Weigh In On Marqeta

Large investors have recently made changes to their positions in the business. Aigen Investment Management LP raised its holdings in Marqeta by 6.7% in the 3rd quarter. Aigen Investment Management LP now owns 28,095 shares of the company’s stock worth $168,000 after acquiring an additional 1,763 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Marqeta by 39.6% in the second quarter. Captrust Financial Advisors now owns 6,686 shares of the company’s stock worth $54,000 after purchasing an additional 1,896 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Marqeta by 1.8% during the third quarter. Arizona State Retirement System now owns 110,657 shares of the company’s stock valued at $662,000 after purchasing an additional 1,957 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Marqeta by 14.9% during the third quarter. Vontobel Holding Ltd. now owns 17,700 shares of the company’s stock valued at $106,000 after buying an additional 2,300 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in Marqeta by 4.9% in the 3rd quarter. Amalgamated Bank now owns 51,433 shares of the company’s stock worth $308,000 after buying an additional 2,395 shares in the last quarter. 58.10% of the stock is currently owned by hedge funds and other institutional investors.

About Marqeta

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, financial technology, embedded finance solutions, and large financial institution.