Marqeta (NASDAQ:MQ) Stock Price Up 4.5% - What's Next?

Marqeta, Inc. (NASDAQ:MQ - Get Free Report)'s share price was up 4.5% on Tuesday . The company traded as high as $4.49 and last traded at $4.52. Approximately 4,908,388 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 5,287,119 shares. The stock had previously closed at $4.32.

Wall Street Analyst Weigh In

Several research firms have commented on MQ. The Goldman Sachs Group upped their price target on Marqeta from $4.00 to $4.50 and gave the company a "neutral" rating in a report on Thursday, February 27th. Barclays restated an "equal weight" rating and issued a $4.00 target price (down from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Wells Fargo & Company lowered their price target on shares of Marqeta from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Marqeta from $5.00 to $4.00 and set a "market perform" rating for the company in a report on Monday, January 6th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Marqeta has an average rating of "Hold" and an average target price of $5.33.

Marqeta Price Performance

The firm's 50-day simple moving average is $3.90 and its 200 day simple moving average is $4.27. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 221.00 and a beta of 1.49.

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Marqeta (NASDAQ:MQ - Get Free Report) last issued 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. The business had revenue of $135.79 million during 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, research analysts predict that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MQ. California State Teachers Retirement System raised its stake in Marqeta by 0.6% during the fourth quarter. California State Teachers Retirement System now owns 380,608 shares of the company's stock worth $1,443,000 after buying an additional 2,343 shares during the last quarter. Arizona State Retirement System lifted its stake in Marqeta by 2.5% in the fourth quarter. Arizona State Retirement System now owns 116,397 shares of the company's stock valued at $441,000 after buying an additional 2,860 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Marqeta by 7.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 46,670 shares of the company's stock worth $174,000 after buying an additional 3,155 shares in the last quarter. Xponance Inc. grew its position in shares of Marqeta by 11.5% during the 4th quarter. Xponance Inc. now owns 34,314 shares of the company's stock worth $130,000 after buying an additional 3,546 shares during the period. Finally, Primecap Management Co. CA lifted its position in shares of Marqeta by 0.7% during the 3rd quarter. Primecap Management Co. CA now owns 488,300 shares of the company's stock valued at $2,402,000 after acquiring an additional 3,627 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

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.