Marqeta (NASDAQ:MQ) Given “Equal Weight” Rating at Barclays

Marqeta (NASDAQ:MQ)‘s stock had its “equal weight” rating restated by stock analysts at Barclays in a research report issued on Tuesday, Marketbeat reports. They presently have a $4.00 price target on the stock, down from their previous price target of $5.00. Barclays‘s price objective would suggest a potential upside of 7.82% from the stock’s current price.

MQ has been the topic of several other research reports. Keefe, Bruyette & Woods decreased their price objective on Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Tuesday, November 5th. The Goldman Sachs Group decreased their price target on Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Wells Fargo & Company cut Marqeta from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $7.00 to $5.00 in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered shares of Marqeta from a “buy” rating to a “hold” rating and cut their price objective for the stock from $9.00 to $4.00 in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Marqeta presently has an average rating of “Hold” and an average price target of $6.03.

Marqeta Stock Down 4.6 %

NASDAQ MQ opened at $3.71 on Tuesday. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 185.50 and a beta of 1.54. Marqeta has a fifty-two week low of $3.37 and a fifty-two week high of $7.36. The business has a fifty day moving average of $4.42 and a 200-day moving average of $4.94.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. Marqeta’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.07) earnings per share. As a group, analysts anticipate that Marqeta will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Marqeta

A number of hedge funds have recently made changes to their positions in MQ. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Marqeta by 8.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock valued at $246,000 after buying an additional 3,548 shares during the period. Primecap Management Co. CA raised its stake in shares of Marqeta by 0.7% during the third quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock valued at $2,402,000 after purchasing an additional 3,627 shares during the period. Principal Financial Group Inc. lifted its position in shares of Marqeta by 9.9% during the second quarter. Principal Financial Group Inc. now owns 60,636 shares of the company’s stock worth $332,000 after purchasing an additional 5,481 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Marqeta by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock valued at $1,385,000 after purchasing an additional 5,515 shares during the period. Finally, Arizona State Retirement System grew its holdings in Marqeta by 6.5% during the 2nd quarter. Arizona State Retirement System now owns 116,295 shares of the company’s stock valued at $637,000 after purchasing an additional 7,097 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Company Profile

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.