Marqeta (NASDAQ:MQ) Trading 5.9% Higher - Still a Buy?

Marqeta, Inc. (NASDAQ:MQ - Get Free Report) shares traded up 5.9% during trading on Monday . The stock traded as high as $3.97 and last traded at $3.99. 742,958 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 3,839,645 shares. The stock had previously closed at $3.77.

Wall Street Analyst Weigh In

MQ has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Marqeta from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 16th. William Blair cut shares of Marqeta from an "outperform" rating to a "market perform" rating in a report on Tuesday, November 5th. Barclays restated an "equal weight" rating and issued a $4.00 target price (down previously from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. JPMorgan Chase & Co. lowered their target price on Marqeta from $6.00 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods lowered their price target 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. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $5.75.

Marqeta Stock Performance

The firm's 50-day moving average is $3.83 and its two-hundred day moving average is $4.62. The stock has a market cap of $1.93 billion, a P/E ratio of 192.00 and a beta of 1.52.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The business's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) earnings per share. As a group, research analysts forecast that Marqeta, Inc. will post 0.06 EPS for the current year.

Institutional Trading of Marqeta

Institutional investors and hedge funds have recently modified their holdings of the stock. Congress Asset Management Co. increased its holdings in shares of Marqeta by 46.8% in the third quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company's stock worth $5,194,000 after acquiring an additional 336,349 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Marqeta by 107.8% during the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company's stock worth $3,265,000 after acquiring an additional 441,617 shares in the last quarter. Cerity Partners LLC bought a new stake in shares of Marqeta during the third quarter worth $1,466,000. Main Management ETF Advisors LLC bought a new stake in shares of Marqeta during the third quarter worth $786,000. Finally, GSA Capital Partners LLP increased its position in shares of Marqeta by 671.7% during the third quarter. GSA Capital Partners LLP now owns 234,401 shares of the company's stock worth $1,153,000 after acquiring an additional 204,026 shares in the last quarter. 78.64% of the stock is owned by institutional investors.

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.