Marqeta, Inc. (NASDAQ:MQ) Receives $7.11 Average PT from Brokerages

Shares of Marqeta, Inc. (NASDAQ:MQ - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fifteen research firms that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $7.11.

A number of brokerages have issued reports on MQ. Keefe, Bruyette & Woods reduced their price objective on shares of Marqeta from $7.00 to $6.00 and set a "market perform" rating on the stock in a research note on Monday, July 8th. JPMorgan Chase & Co. reduced their price target on Marqeta from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $5.50 price objective on shares of Marqeta in a report on Monday, June 24th. Susquehanna restated a "positive" rating and set a $9.00 target price on shares of Marqeta in a report on Tuesday, August 6th. Finally, UBS Group lowered their price target on Marqeta from $8.50 to $8.00 and set a "buy" rating for the company in a research note on Friday, August 9th.

Marqeta Price Performance

Shares of Marqeta stock traded up $0.06 during trading on Friday, hitting $5.21. 2,202,863 shares of the company's stock traded hands, compared to its average volume of 4,532,355. The firm's fifty day moving average price is $5.11 and its 200 day moving average price is $5.33. Marqeta has a twelve month low of $4.40 and a twelve month high of $7.36. The company has a market cap of $2.70 billion, a PE ratio of -14.47 and a beta of 1.77.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.04. Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The company had revenue of $125.30 million for the quarter, compared to analyst estimates of $121.87 million. During the same period in the prior year, the business earned ($0.07) earnings per share. Marqeta's quarterly revenue was down 45.8% on a year-over-year basis. As a group, equities research analysts anticipate that Marqeta will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Visa Foundation bought a new position in Marqeta during the 2nd quarter worth $68,197,000. Capital International Investors raised its position in Marqeta by 203.1% during the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company's stock worth $40,998,000 after purchasing an additional 4,609,526 shares during the last quarter. Vanguard Group Inc. raised its position in Marqeta by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company's stock worth $282,717,000 after purchasing an additional 1,642,621 shares during the last quarter. Westfield Capital Management Co. LP raised its position in Marqeta by 27.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company's stock worth $44,216,000 after purchasing an additional 1,604,223 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Marqeta by 65.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company's stock worth $14,362,000 after purchasing an additional 1,038,577 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

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.