Marqeta (NASDAQ:MQ) Stock Price Up 4.2% - Still a Buy?

Marqeta, Inc. (NASDAQ:MQ - Get Free Report)'s stock price rose 4.2% on Tuesday . The stock traded as high as $4.30 and last traded at $4.30. Approximately 1,069,566 shares changed hands during trading, a decline of 81% from the average daily volume of 5,550,180 shares. The stock had previously closed at $4.12.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group reduced their price objective on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a research report on Wednesday. Barclays reiterated an "equal weight" rating and issued a $4.00 price objective (down previously from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods cut their target price on Marqeta from $5.00 to $4.00 and set a "market perform" rating on the stock in a research note on Monday, January 6th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Marqeta currently has an average rating of "Hold" and a consensus price target of $5.29.

Marqeta Trading Down 6.1 %

The stock has a market cap of $1.87 billion, a PE ratio of 185.50 and a beta of 1.42. The business has a 50-day moving average price of $3.99 and a 200 day moving average price of $4.21.

Remove Ads

Marqeta (NASDAQ:MQ - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share 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 firm had revenue of $135.79 million during the quarter, compared to analyst estimates of $132.71 million. On average, equities analysts predict that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Institutional Investors Weigh In On Marqeta

A number of hedge funds and other institutional investors have recently bought and sold shares of MQ. Verition Fund Management LLC grew its position in shares of Marqeta by 45.5% in the third quarter. Verition Fund Management LLC now owns 69,163 shares of the company's stock valued at $340,000 after purchasing an additional 21,625 shares in the last quarter. Point72 DIFC Ltd bought a new position in Marqeta in the 3rd quarter worth about $57,000. Weiss Asset Management LP purchased a new position in Marqeta during the 3rd quarter valued at about $1,104,000. XTX Topco Ltd increased its position in shares of Marqeta by 1,359.0% during the third quarter. XTX Topco Ltd now owns 191,586 shares of the company's stock valued at $943,000 after buying an additional 178,455 shares during the period. Finally, Main Management ETF Advisors LLC purchased a new stake in shares of Marqeta in the third quarter worth about $786,000. Institutional investors own 78.64% of the company's stock.

Marqeta Company Profile

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.