Marqeta (NASDAQ:MQ) Price Target Raised to $7.00

Marqeta (NASDAQ:MQGet Free Report) had its target price raised by analysts at Wells Fargo & Company from $6.00 to $7.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 18.24% from the company’s current price.

MQ has been the topic of several other reports. Barclays increased their target price on shares of Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Mizuho increased their target price on shares of Marqeta from $7.00 to $8.00 and gave the company a “buy” rating in a report on Monday, November 20th. William Blair reiterated an “outperform” rating on shares of Marqeta in a research report on Wednesday, November 8th. Truist Financial lifted their price target on shares of Marqeta from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, November 21st. Finally, Morgan Stanley lifted their target price on shares of Marqeta from $4.50 to $5.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Marqeta presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.95.

Read Our Latest Stock Analysis on MQ

Marqeta Price Performance

Shares of NASDAQ MQ opened at $5.92 on Tuesday. The firm has a market cap of $3.09 billion, a PE ratio of -15.18 and a beta of 1.85. Marqeta has a 12-month low of $3.46 and a 12-month high of $7.24. The company’s fifty day simple moving average is $6.39 and its 200 day simple moving average is $6.00.

Marqeta (NASDAQ:MQGet Free Report) last issued its earnings results on Tuesday, November 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.03. The business had revenue of $108.89 million for the quarter, compared to analyst estimates of $96.24 million. Marqeta had a negative net margin of 27.45% and a negative return on equity of 12.22%. On average, equities analysts predict that Marqeta will post -0.43 earnings per share for the current year.

Insider Activity

In other news, insider Randall F. Kern sold 53,367 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $6.23, for a total transaction of $332,476.41. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 10.88% of the company’s stock.

Institutional Trading of Marqeta

A number of hedge funds have recently modified their holdings of the business. Avior Wealth Management LLC boosted its stake in Marqeta by 8.8% in the 4th quarter. Avior Wealth Management LLC now owns 21,253 shares of the company’s stock worth $148,000 after purchasing an additional 1,719 shares in the last quarter. Aigen Investment Management LP lifted its stake in Marqeta by 6.7% during the 3rd quarter. Aigen Investment Management LP now owns 28,095 shares of the company’s stock valued at $168,000 after acquiring an additional 1,763 shares during the period. Captrust Financial Advisors lifted its stake in Marqeta by 39.6% during the 2nd quarter. Captrust Financial Advisors now owns 6,686 shares of the company’s stock valued at $54,000 after acquiring an additional 1,896 shares during the period. Arizona State Retirement System lifted its stake in Marqeta by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 110,657 shares of the company’s stock valued at $662,000 after acquiring an additional 1,957 shares during the period. Finally, Vontobel Holding Ltd. lifted its stake in Marqeta by 14.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 17,700 shares of the company’s stock valued at $106,000 after acquiring an additional 2,300 shares during the period. Institutional investors own 58.10% of the company’s stock.

Marqeta Company Profile

(Get Free Report)

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.

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