Marqeta, Inc. (NASDAQ:MQ) Receives $7.43 Consensus Price Target from Brokerages

Marqeta, Inc. (NASDAQ:MQ) has earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $7.37.

MQ has been the subject of a number of recent analyst reports. Monness Crespi & Hardt increased their target price on shares of Marqeta from $7.50 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Bank of America upgraded shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Monday, February 12th. Mizuho decreased their price target on Marqeta from $8.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday. William Blair reissued an “outperform” rating on shares of Marqeta in a research report on Wednesday, May 8th. Finally, Keefe, Bruyette & Woods upped their target price on Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Friday, March 1st.

Marqeta Stock Performance

MQ stock opened at $5.19 on Tuesday. The company has a market capitalization of $2.69 billion, a P/E ratio of -14.42 and a beta of 1.81. The company has a fifty day moving average price of $5.70 and a 200-day moving average price of $6.08. Marqeta has a 52-week low of $4.56 and a 52-week high of $7.36.

Marqeta (NASDAQ:MQ) last announced its earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. Marqeta had a negative return on equity of 11.84% and a negative net margin of 32.98%. The business had revenue of $117.90 million during the quarter, compared to analyst estimates of $117.05 million. During the same period last year, the company earned ($0.13) EPS. Marqeta’s revenue for the quarter was down 45.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Marqeta will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Covestor Ltd raised its holdings in shares of Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock worth $26,000 after acquiring an additional 4,335 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Marqeta by 7,852.8% during the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after purchasing an additional 9,973 shares in the last quarter. Profund Advisors LLC purchased a new stake in shares of Marqeta in the third quarter worth approximately $62,000. Empowered Funds LLC bought a new position in shares of Marqeta in the first quarter valued at approximately $65,000. Finally, SVB Wealth LLC bought a new position in shares of Marqeta in the fourth quarter valued at approximately $70,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

About Marqeta

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.