Marqeta (NASDAQ:MQ) Trading Up 3.7% - Should You Buy?

Marqeta, Inc. (NASDAQ:MQ - Get Free Report)'s stock price shot up 3.7% during trading on Thursday . The stock traded as high as $5.14 and last traded at $5.11. 1,303,504 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 4,585,501 shares. The stock had previously closed at $4.93.

Analysts Set New Price Targets

MQ has been the topic of a number of research reports. Susquehanna restated a "positive" rating and set a $9.00 price objective on shares of Marqeta in a research report on Tuesday, August 6th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $5.50 price objective on shares of Marqeta in a research note on Monday, June 24th. JPMorgan Chase & Co. cut their target price on shares of Marqeta from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. Keefe, Bruyette & Woods reduced their target price on shares of Marqeta from $7.00 to $6.00 and set a "market perform" rating on the stock in a report on Monday, July 8th. Finally, Wells Fargo & Company raised shares of Marqeta from an "equal weight" rating to an "overweight" rating and set a $7.00 price target for the company in a research note on Tuesday, June 25th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $7.11.

Marqeta Price Performance

The company has a fifty day moving average price of $5.10 and a 200 day moving average price of $5.36. The stock has a market cap of $2.58 billion, a P/E ratio of -13.83 and a beta of 1.77.

Marqeta (NASDAQ:MQ - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $125.30 million during the quarter, compared to analysts' expectations of $121.87 million. During the same period last year, the company earned ($0.07) earnings per share. The business's revenue was down 45.8% on a year-over-year basis. As a group, sell-side analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Covestor Ltd grew its stake in Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company's stock valued at $26,000 after purchasing an additional 4,335 shares during the period. J.Safra Asset Management Corp grew its position in Marqeta by 633.2% during the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company's stock valued at $34,000 after buying an additional 5,300 shares during the period. Russell Investments Group Ltd. increased its holdings in Marqeta by 7,852.8% during the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company's stock worth $60,000 after buying an additional 9,973 shares during the last quarter. Magnetar Financial LLC bought a new stake in Marqeta in the second quarter worth about $61,000. Finally, Empowered Funds LLC purchased a new position in Marqeta in the first quarter valued at about $65,000. 78.64% of the stock is 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.