Marqeta, Inc. (NASDAQ:MQ) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Marqeta, Inc. (NASDAQ:MQ - Get Free Report) have been given an average rating of "Hold" by the fourteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating and three 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 $5.33.

Several equities research analysts recently commented on MQ shares. Keefe, Bruyette & Woods dropped their target price on Marqeta from $5.00 to $4.00 and set a "market perform" rating on the stock in a report on Monday, January 6th. Wells Fargo & Company reduced their price objective on shares of Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their price objective on shares of Marqeta from $4.00 to $4.50 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Finally, Barclays reissued an "equal weight" rating and set a $4.00 target price (down from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th.

Hedge Funds Weigh In On Marqeta

Large investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. acquired a new stake in Marqeta in the fourth quarter worth $72,879,000. Price T Rowe Associates Inc. MD grew its stake in shares of Marqeta by 5,396.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company's stock worth $68,862,000 after acquiring an additional 17,838,535 shares in the last quarter. Geode Capital Management LLC increased its stake in Marqeta by 3.0% in the 4th 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 bought a new stake in Marqeta during the fourth quarter worth about $37,289,000. Finally, Westfield Capital Management Co. LP raised its stake in shares of Marqeta by 4.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 8,333,453 shares of the company's stock worth $41,001,000 after purchasing an additional 319,661 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.

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Marqeta Stock Up 5.4 %

Shares of NASDAQ MQ traded up $0.22 during trading on Monday, reaching $4.32. 11,551,116 shares of the stock were exchanged, compared to its average volume of 5,240,707. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 216.00 and a beta of 1.49. The business's 50-day moving average price is $3.84 and its 200 day moving average price is $4.28. Marqeta has a twelve month low of $3.37 and a twelve month high of $6.44.

Marqeta (NASDAQ:MQ - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.05. The business had revenue of $135.79 million for the quarter, compared to analysts' expectations of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. As a group, sell-side analysts expect 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.