Marqeta, Inc. (NASDAQ:MQ) Receives $5.29 Average PT from Analysts

Shares of Marqeta, Inc. (NASDAQ:MQ - Get Free Report) have been assigned an average rating of "Hold" from the fourteen analysts that are presently covering the firm, MarketBeat reports. Eleven investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $5.29.

A number of research analysts have commented on the company. Barclays reiterated an "equal weight" rating and issued a $4.00 price objective (down from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. The Goldman Sachs Group decreased their target price on Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Wells Fargo & Company decreased their target price on Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lowered their target price on Marqeta from $5.00 to $4.00 and set a "market perform" rating for the company in a research note on Monday, January 6th.

Hedge Funds Weigh In On Marqeta

Several hedge funds and other institutional investors have recently bought and sold shares of MQ. SG Americas Securities LLC lifted its stake in shares of Marqeta by 401.1% in the 1st quarter. SG Americas Securities LLC now owns 192,216 shares of the company's stock valued at $792,000 after purchasing an additional 153,861 shares during the period. Sanders Morris Harris LLC bought a new position in Marqeta during the first quarter worth $148,000. Rhumbline Advisers increased its stake in Marqeta by 7.5% in the first quarter. Rhumbline Advisers now owns 686,876 shares of the company's stock valued at $2,830,000 after purchasing an additional 47,965 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Marqeta in the 4th quarter valued at about $19,717,000. Finally, California State Teachers Retirement System increased its position in Marqeta by 0.6% in the 4th quarter. California State Teachers Retirement System now owns 380,608 shares of the company's stock valued at $1,443,000 after buying an additional 2,343 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.

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Marqeta Price Performance

Shares of MQ stock remained flat at $3.92 during trading hours on Friday. The stock had a trading volume of 1,258,295 shares, compared to its average volume of 5,669,897. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 196.00 and a beta of 1.42. Marqeta has a 52 week low of $3.37 and a 52 week high of $6.01. The stock's 50 day moving average is $3.99 and its two-hundred day moving average is $4.14.

Marqeta (NASDAQ:MQ - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.05. The firm had revenue of $135.79 million for the quarter, compared to analysts' expectations of $132.71 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. On average, research 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.