Marqeta, Inc. (NASDAQ:MQ) Receives $7.57 Consensus Price Target from Analysts

Shares of Marqeta, Inc. (NASDAQ:MQ) have received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $7.57.

A number of equities analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Marqeta from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Truist Financial restated a “buy” rating and issued a $10.00 price target (up previously from $9.00) on shares of Marqeta in a research report on Thursday, February 29th. Bank of America upgraded shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Monday, February 12th. KeyCorp boosted their target price on shares of Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, January 8th. Finally, Monness Crespi & Hardt assumed coverage on Marqeta in a research report on Tuesday, April 2nd. They issued a “buy” rating and a $7.50 target price for the company.

Institutional Investors Weigh In On Marqeta

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Marqeta by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 45,793,157 shares of the company’s stock valued at $319,636,000 after acquiring an additional 1,592,977 shares during the last quarter. FMR LLC lifted its stake in shares of Marqeta by 27.1% in the 3rd quarter. FMR LLC now owns 28,456,412 shares of the company’s stock valued at $170,169,000 after purchasing an additional 6,058,777 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Marqeta by 16.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,305,306 shares of the company’s stock worth $44,015,000 after purchasing an additional 900,675 shares in the last quarter. Westfield Capital Management Co. LP increased its position in Marqeta by 14.6% during the fourth quarter. Westfield Capital Management Co. LP now owns 5,814,628 shares of the company’s stock worth $40,586,000 after buying an additional 739,871 shares during the last quarter. Finally, Alkeon Capital Management LLC increased its position in Marqeta by 94.2% during the third quarter. Alkeon Capital Management LLC now owns 5,155,103 shares of the company’s stock worth $30,828,000 after buying an additional 2,500,000 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

Marqeta Price Performance

Shares of MQ opened at $5.41 on Friday. Marqeta has a 12-month low of $3.74 and a 12-month high of $7.36. The stock has a market capitalization of $2.78 billion, a P/E ratio of -12.88 and a beta of 1.84. The firm’s 50 day moving average is $5.98 and its 200-day moving average is $6.06.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The company had revenue of $118.82 million for the quarter, compared to analysts’ expectations of $110.80 million. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The firm’s revenue was down 41.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) earnings per share. As a group, equities research analysts forecast that Marqeta will post -0.35 EPS for the current fiscal year.

Marqeta Company Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.