Marqeta (NASDAQ:MQ - Get Free Report) had its price target raised by The Goldman Sachs Group from $4.00 to $4.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. The Goldman Sachs Group's price target indicates a potential upside of 8.96% from the stock's previous close.
Several other research analysts have also recently commented on MQ. Wells Fargo & Company lowered 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. Deutsche Bank Aktiengesellschaft downgraded Marqeta from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $9.00 to $4.00 in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods reduced their target price on shares of Marqeta from $5.00 to $4.00 and set a "market perform" rating on the stock in a report on Monday, January 6th. Barclays reiterated an "equal weight" rating and set a $4.00 price target (down previously from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Finally, Susquehanna dropped their price objective on shares of Marqeta from $9.00 to $7.00 and set a "positive" rating on the stock in a research report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $5.33.
Get Our Latest Stock Analysis on MQ
Marqeta Stock Performance
Shares of MQ traded down $0.05 during mid-day trading on Thursday, hitting $4.13. 8,497,647 shares of the company's stock were exchanged, compared to its average volume of 5,330,101. The stock's 50-day moving average is $3.78 and its 200-day moving average is $4.38. Marqeta has a fifty-two week low of $3.37 and a fifty-two week high of $6.44. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 206.50 and a beta of 1.52.
Marqeta (NASDAQ:MQ - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.05. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company had revenue of $135.79 million for the quarter, compared to analyst estimates of $132.71 million. As a group, equities research analysts anticipate that Marqeta will post 0.06 EPS for the current year.
Institutional Investors Weigh In On Marqeta
Several hedge funds and other institutional investors have recently bought and sold shares of MQ. Congress Asset Management Co. grew its holdings in shares of Marqeta by 46.8% during the third quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company's stock worth $5,194,000 after purchasing an additional 336,349 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Marqeta by 107.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 248,968 shares of the company's stock worth $1,225,000 after buying an additional 128,717 shares during the last quarter. Olympiad Research LP purchased a new position in Marqeta during the 3rd quarter worth approximately $113,000. Atria Investments Inc increased its position in Marqeta by 32.7% during the third quarter. Atria Investments Inc now owns 37,485 shares of the company's stock worth $184,000 after buying an additional 9,235 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in Marqeta by 6.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 370,070 shares of the company's stock valued at $1,821,000 after buying an additional 23,729 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.
Marqeta Company Profile
(
Get Free Report)
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.
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