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

Marqeta, Inc. (NASDAQ:MQ) has been assigned an average recommendation of “Reduce” from the eleven research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $20.1250.

A number of research analysts have weighed in on MQ shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Marqeta in a research report on Wednesday, June 24th. UBS Group boosted their price target on shares of Marqeta from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Marqeta from $4.50 to $18.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd.

Insider Buying and Selling at Marqeta

In related news, Director Elaine Paul sold 4,537 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $15.20, for a total transaction of $68,962.40. Following the completion of the sale, the director owned 8,900 shares of the company’s stock, valued at approximately $135,280. This represents a 33.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Todd Pollak sold 18,750 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $16.88, for a total transaction of $316,500.00. Following the completion of the sale, the executive owned 185,008 shares of the company’s stock, valued at approximately $3,122,935.04. The trade was a 9.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 27,650 shares of company stock valued at $463,473. 12.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marqeta

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of Marqeta in the 3rd quarter worth $26,000. Western Wealth Management LLC purchased a new position in Marqeta during the first quarter worth about $27,000. EFG International AG acquired a new position in Marqeta in the 4th quarter valued at about $27,000. CWM LLC grew its position in Marqeta by 82.2% in the fourth quarter. CWM LLC now owns 6,254 shares of the company’s stock worth $30,000 after acquiring an additional 2,821 shares during the period. Finally, Leonteq Securities AG acquired a new stake in Marqeta during the fourth quarter worth $33,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Price Performance

Marqeta stock traded up $0.36 during trading hours on Friday, reaching $15.87. The stock had a trading volume of 799,693 shares, compared to its average volume of 1,155,906. Marqeta has a 52 week low of $14.80 and a 52 week high of $28.16. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 396.85 and a beta of 1.31. The business’s 50 day moving average price is $15.99 and its 200-day moving average price is $16.69.

Marqeta (NASDAQ:MQ) last announced its earnings results on Tuesday, May 5th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. The company had revenue of $165.80 million during the quarter, compared to the consensus estimate of $164.30 million. Marqeta had a net margin of 0.33% and a return on equity of 0.27%. Marqeta’s revenue was up 19.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) earnings per share. On average, sell-side analysts forecast that Marqeta will post 0.14 EPS for the current fiscal year.

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.