Marqeta, Inc. (NASDAQ:MQ) Given Average Rating of “Hold” by Brokerages

Shares of Marqeta, Inc. (NASDAQ:MQ) have been given a consensus recommendation of “Hold” by the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $5.33.

MQ has been the subject of several analyst reports. Barclays reaffirmed an “equal weight” rating and set a $4.00 price objective (down from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. The Goldman Sachs Group boosted their target price on Marqeta from $4.00 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Wells Fargo & Company dropped their target price on Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods dropped their target price on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a research report on Monday, January 6th.

Marqeta Stock Performance

Marqeta stock opened at $4.42 on Monday. Marqeta has a fifty-two week low of $3.37 and a fifty-two week high of $6.32. The company has a market capitalization of $2.23 billion, a P/E ratio of 221.00 and a beta of 1.49. The stock has a 50-day simple moving average of $3.90 and a 200-day simple moving average of $4.27.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.05. The firm had revenue of $135.79 million during the quarter, compared to the consensus estimate of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. As a group, analysts forecast that Marqeta will post 0.06 earnings per share for the current year.

Institutional Investors Weigh In On Marqeta

A number of large investors have recently bought and sold shares of MQ. Atria Investments Inc grew its holdings in Marqeta by 32.7% during the 3rd quarter. Atria Investments Inc now owns 37,485 shares of the company’s stock valued at $184,000 after buying an additional 9,235 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Marqeta by 6.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 370,070 shares of the company’s stock valued at $1,821,000 after buying an additional 23,729 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Marqeta during the 3rd quarter valued at $431,000. Primecap Management Co. CA grew its holdings in 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 buying an additional 3,627 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in Marqeta during the 3rd quarter valued at $1,466,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

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.