Marqeta, Inc. (NASDAQ:MQ) Receives $7.11 Consensus Target Price from Analysts

Shares of Marqeta, Inc. (NASDAQ:MQ) have been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $7.11.

A number of analysts have issued reports on MQ shares. William Blair reaffirmed an “outperform” rating on shares of Marqeta in a research note on Wednesday, May 8th. Susquehanna restated a “positive” rating and set a $9.00 price objective on shares of Marqeta in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods decreased 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. Wedbush restated a “neutral” rating and set a $6.00 price target on shares of Marqeta in a report on Wednesday, May 8th. Finally, Wells Fargo & Company upgraded Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective on the stock in a report on Tuesday, June 25th.

Insider Activity at Marqeta

In other Marqeta news, Director Martha Cummings sold 40,241 shares of Marqeta stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $5.47, for a total value of $220,118.27. Following the completion of the transaction, the director now directly owns 19,000 shares of the company’s stock, valued at approximately $103,930. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 12.12% of the company’s stock.

Hedge Funds Weigh In On Marqeta

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning increased its position in shares of Marqeta by 61.2% during the second quarter. Creative Planning now owns 72,924 shares of the company’s stock worth $400,000 after acquiring an additional 27,691 shares during the period. Algert Global LLC increased its holdings in Marqeta by 35.0% during the 2nd quarter. Algert Global LLC now owns 278,656 shares of the company’s stock worth $1,527,000 after purchasing an additional 72,316 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Marqeta by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock worth $1,385,000 after purchasing an additional 5,515 shares during the period. Dark Forest Capital Management LP acquired a new stake in Marqeta in the 2nd quarter valued at about $526,000. Finally, AQR Capital Management LLC boosted its stake in shares of Marqeta by 62.3% in the 2nd quarter. AQR Capital Management LLC now owns 30,805 shares of the company’s stock valued at $169,000 after buying an additional 11,821 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Trading Down 1.4 %

Shares of NASDAQ MQ opened at $5.04 on Thursday. The company has a 50-day moving average of $5.32 and a 200 day moving average of $5.58. Marqeta has a 12-month low of $4.40 and a 12-month high of $7.36. The stock has a market cap of $2.61 billion, a PE ratio of -14.00 and a beta of 1.78.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results 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 positive return on equity of 0.51% and a negative net margin of 2.62%. The business had revenue of $125.30 million during 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. The business’s revenue was down 45.8% compared to the same quarter last year. On average, sell-side analysts forecast that Marqeta will post 0.06 EPS for the current fiscal year.

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.