Marqeta, Inc. (NASDAQ:MQ) Receives $19.75 Consensus Price Target from Analysts

Shares of Marqeta, Inc. (NASDAQ:MQ) have been given a consensus rating of “Hold” by the eleven brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $19.75.

MQ has been the topic of several research analyst reports. Zacks Research raised shares of Marqeta from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft lifted their price target 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. Weiss Ratings raised shares of Marqeta from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods increased their price objective on shares of Marqeta from $18.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. Finally, UBS Group boosted their target price on Marqeta from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th.

Marqeta Stock Performance

MQ opened at $16.08 on Monday. Marqeta has a one year low of $14.80 and a one year high of $25.83. The stock has a market capitalization of $1.67 billion, a PE ratio of 146.18 and a beta of 1.30. The business’s 50 day moving average price is $16.53 and its 200 day moving average price is $16.34.

Marqeta (NASDAQ:MQ) last posted its earnings results on Tuesday, August 4th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The company had revenue of $176.00 million for the quarter, compared to the consensus estimate of $172.96 million. Marqeta had a return on equity of 1.36% and a net margin of 1.53%.The company’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts forecast that Marqeta will post 0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Todd Pollak sold 18,750 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $16.88, for a total value of $316,500.00. Following the sale, the executive owned 185,008 shares in the company, valued at approximately $3,122,935.04. The trade was a 9.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Elaine Paul sold 4,537 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $15.20, for a total value of $68,962.40. Following the transaction, the director directly owned 8,900 shares in the company, valued at approximately $135,280. The trade was a 33.76% 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. Insiders own 13.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in Marqeta during the 3rd quarter worth approximately $26,000. Western Wealth Management LLC acquired a new position in shares of Marqeta in the first quarter worth $27,000. EFG International AG acquired a new position in shares of Marqeta in the fourth quarter worth $27,000. CWM LLC increased its position in shares of Marqeta by 82.2% during 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 purchased a new stake in shares of Marqeta during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

About Marqeta

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.