Brokerages Set Marqeta, Inc. (NASDAQ:MQ) PT at $5.50

Shares of Marqeta, Inc. (NASDAQ:MQ) have been assigned a consensus recommendation of “Reduce” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $5.50.

A number of research firms have weighed in on MQ. Keefe, Bruyette & Woods cut their price target on Marqeta from $6.50 to $6.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 1st. Citigroup raised Marqeta to a “hold” rating in a report on Thursday, October 23rd. The Goldman Sachs Group set a $5.00 price objective on shares of Marqeta and gave the stock a “sell” rating in a report on Monday, October 13th. Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a report on Monday. Finally, UBS Group dropped their target price on shares of Marqeta from $5.75 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th.

Marqeta Price Performance

Shares of MQ stock opened at $4.89 on Wednesday. Marqeta has a 1-year low of $3.47 and a 1-year high of $7.04. The company has a 50-day moving average of $4.76 and a two-hundred day moving average of $5.42. The firm has a market cap of $2.15 billion, a PE ratio of -60.81 and a beta of 1.48.

Marqeta (NASDAQ:MQ) last posted its earnings results on Wednesday, November 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $163.31 million for the quarter, compared to analyst estimates of $148.37 million. Marqeta had a negative return on equity of 4.22% and a negative net margin of 6.74%.Marqeta’s revenue was up 27.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) EPS. Sell-side analysts anticipate that Marqeta will post 0.06 EPS for the current fiscal year.

Insider Transactions at Marqeta

In other Marqeta news, Director Jason M. Gardner sold 113,366 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $5.00, for a total transaction of $566,830.00. Following the completion of the sale, the director directly owned 303,467 shares of the company’s stock, valued at $1,517,335. This represents a 27.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 218,509 shares of company stock valued at $1,092,545. Insiders own 12.61% of the company’s stock.

Hedge Funds Weigh In On Marqeta

A number of large investors have recently made changes to their positions in MQ. Certuity LLC boosted its stake in shares of Marqeta by 22.3% during the 3rd quarter. Certuity LLC now owns 14,235 shares of the company’s stock worth $75,000 after acquiring an additional 2,596 shares in the last quarter. Victory Capital Management Inc. increased its position in Marqeta by 2.7% during the 3rd quarter. Victory Capital Management Inc. now owns 101,567 shares of the company’s stock worth $536,000 after purchasing an additional 2,711 shares in the last quarter. Jasper Ridge Partners L.P. boosted its stake in shares of Marqeta by 3.1% during the 2nd quarter. Jasper Ridge Partners L.P. now owns 95,244 shares of the company’s stock worth $555,000 after purchasing an additional 2,839 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Marqeta by 61.8% during the second quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company’s stock worth $57,000 after buying an additional 3,737 shares in the last quarter. Finally, Cerity Partners LLC raised its position in shares of Marqeta by 1.4% in the second quarter. Cerity Partners LLC now owns 294,854 shares of the company’s stock valued at $1,719,000 after buying an additional 3,993 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Company Profile

Marqeta is a modern card issuing and payment processing platform that enables businesses to design, launch and manage customized payment cards. The company offers a fully programmable open API that allows clients to create virtual, physical and tokenized payment cards with real-time transaction controls and dynamic spend limits. By leveraging Marqeta’s infrastructure, companies can streamline their payment operations, reduce time to market and deliver tailored payment experiences to end consumers.

Founded in 2010 and headquartered in Oakland, California, Marqeta was established by CEO Jason Gardner with the goal of transforming traditional card issuance through cloud-native technology.