Marqeta, Inc. (NASDAQ:MQ) Given Average Recommendation of "Hold" by Analysts

Shares of Marqeta, Inc. (NASDAQ:MQ - Get Free Report) have been given an average recommendation of "Hold" by the fifteen research firms that are covering the stock, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $5.65.

Several equities research analysts have recently weighed in on the stock. Susquehanna reduced their target price on shares of Marqeta from $9.00 to $7.00 and set a "positive" rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley reduced their target price on shares of Marqeta from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 5th. Monness Crespi & Hardt downgraded shares of Marqeta from a "buy" rating to a "neutral" rating and set a $7.50 target price on the stock. in a research note on Tuesday, November 5th. William Blair cut shares of Marqeta from an "outperform" rating to a "market perform" rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Marqeta from a "buy" rating to a "hold" rating and cut their price target for the stock from $9.00 to $4.00 in a report on Tuesday, November 5th.

Marqeta Stock Down 6.0 %

Marqeta stock traded down $0.24 during mid-day trading on Thursday, reaching $3.68. 3,453,951 shares of the company's stock traded hands, compared to its average volume of 4,199,230. Marqeta has a 12-month low of $3.37 and a 12-month high of $7.36. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 184.15 and a beta of 1.52. The stock has a 50 day moving average of $3.78 and a two-hundred day moving average of $4.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Marqeta during the fourth quarter valued at about $72,879,000. Price T Rowe Associates Inc. MD lifted its position in shares of Marqeta by 5,396.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company's stock valued at $68,862,000 after buying an additional 17,838,535 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Marqeta by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company's stock valued at $41,819,000 after buying an additional 318,184 shares during the last quarter. RPD Fund Management LLC purchased a new stake in shares of Marqeta during the fourth quarter valued at about $37,289,000. Finally, Westfield Capital Management Co. LP lifted its position in shares of Marqeta by 4.0% during the third quarter. Westfield Capital Management Co. LP now owns 8,333,453 shares of the company's stock valued at $41,001,000 after buying an additional 319,661 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

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.