Marqeta, Inc. (NASDAQ:MQ) Receives Consensus Rating of "Hold" from Analysts

Marqeta, Inc. (NASDAQ:MQ - Get Free Report) has received an average recommendation of "Hold" from the sixteen research firms that are presently covering the company, Marketbeat reports. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $6.27.

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Marqeta from $6.00 to $5.00 and set a "neutral" rating for the company in a research note on Tuesday, November 5th. KeyCorp cut Marqeta from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, November 5th. Morgan Stanley lowered their price target on Marqeta from $7.00 to $5.00 and set an "equal weight" rating for the company in a report on Tuesday, November 5th. Susquehanna reduced their price objective on Marqeta from $9.00 to $7.00 and set a "positive" rating on the stock in a research note on Tuesday, November 5th. Finally, Mizuho dropped their target price on shares of Marqeta from $7.00 to $5.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th.

Institutional Trading of Marqeta

Several hedge funds have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC increased its stake in Marqeta by 8.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company's stock valued at $246,000 after buying an additional 3,548 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Marqeta by 0.7% during the 3rd quarter. Primecap Management Co. CA now owns 488,300 shares of the company's stock worth $2,402,000 after purchasing an additional 3,627 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Marqeta by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company's stock valued at $281,000 after buying an additional 3,979 shares during the last quarter. Covestor Ltd lifted its stake in Marqeta by 17,340.0% in the first quarter. Covestor Ltd now owns 4,360 shares of the company's stock valued at $26,000 after acquiring an additional 4,335 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in Marqeta by 6.6% in the 1st quarter. ProShare Advisors LLC now owns 84,785 shares of the company's stock valued at $505,000 after purchasing an additional 5,257 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.

Marqeta Trading Down 0.7 %

Shares of Marqeta stock traded down $0.03 during trading hours on Tuesday, reaching $4.11. 11,963,187 shares of the company's stock were exchanged, compared to its average volume of 5,261,663. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 207.00 and a beta of 1.73. Marqeta has a 52-week low of $3.37 and a 52-week high of $7.36. The company has a fifty day moving average of $4.99 and a 200-day moving average of $5.24.

Marqeta (NASDAQ:MQ - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). The firm had revenue of $127.90 million for the quarter, compared to analysts' expectations of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. Marqeta's revenue was up 20.8% on a year-over-year basis. During the same period last year, the firm posted ($0.07) EPS. On average, equities research analysts anticipate that Marqeta will post 0.06 earnings per share for the current fiscal year.

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.