Marqeta (NASDAQ:MQ) PT Raised to $8.00 at Monness Crespi & Hardt

Marqeta (NASDAQ:MQ) had its price objective hoisted by equities research analysts at Monness Crespi & Hardt from $7.50 to $8.00 in a report released on Wednesday, Briefing.com reports. The firm presently has a “buy” rating on the stock. Monness Crespi & Hardt’s price target would suggest a potential upside of 37.22% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. Truist Financial reiterated a “buy” rating and set a $10.00 target price (up from $9.00) on shares of Marqeta in a report on Thursday, February 29th. Bank of America raised Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Monday, February 12th. Barclays lifted their price objective on Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, Wells Fargo & Company upped their target price on Marqeta from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Marqeta has a consensus rating of “Moderate Buy” and an average target price of $7.61.

Marqeta Stock Performance

NASDAQ:MQ opened at $5.83 on Wednesday. Marqeta has a 52-week low of $4.07 and a 52-week high of $7.36. The business’s fifty day moving average is $5.84 and its 200 day moving average is $6.06. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of -13.88 and a beta of 1.81.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The company had revenue of $117.90 million during the quarter, compared to analysts’ expectations of $117.05 million. During the same quarter in the previous year, the company earned ($0.13) earnings per share. Marqeta’s revenue for the quarter was down 45.8% on a year-over-year basis. Equities analysts predict that Marqeta will post -0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Marqeta

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its position in Marqeta by 7,852.8% during the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after purchasing an additional 9,973 shares in the last quarter. Profund Advisors LLC bought a new position in shares of Marqeta during the 3rd quarter valued at approximately $62,000. Empowered Funds LLC purchased a new stake in Marqeta in the 1st quarter worth approximately $65,000. SVB Wealth LLC bought a new stake in Marqeta during the 4th quarter worth approximately $70,000. Finally, Horizon Family Wealth Inc. purchased a new position in Marqeta during the third quarter valued at approximately $73,000. Hedge funds and other 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.