Wells Fargo & Company Lowers Marqeta (NASDAQ:MQ) Price Target to $4.00

Marqeta (NASDAQ:MQ) had its price objective lowered by stock analysts at Wells Fargo & Company from $5.00 to $4.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 6.67% from the company’s previous close.

MQ has been the subject of a number of other reports. The Goldman Sachs Group cut their price objective on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. KeyCorp cut shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. William Blair lowered shares of Marqeta from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. reduced 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. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a report on Monday, January 6th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.75.

Marqeta Trading Down 0.5 %

NASDAQ MQ opened at $3.75 on Thursday. The company has a market cap of $1.88 billion, a PE ratio of 187.50 and a beta of 1.52. Marqeta has a 12 month low of $3.37 and a 12 month high of $7.36. The stock has a 50 day moving average of $3.86 and a 200-day moving average of $4.71.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MQ. Westfield Capital Management Co. LP raised its position in shares of Marqeta by 4.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 8,333,453 shares of the company’s stock valued at $41,001,000 after buying an additional 319,661 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Marqeta by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock valued at $40,759,000 after acquiring an additional 389,045 shares during the last quarter. Alkeon Capital Management LLC raised its position in Marqeta by 31.3% during the third quarter. Alkeon Capital Management LLC now owns 7,420,663 shares of the company’s stock valued at $36,510,000 after purchasing an additional 1,767,845 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its stake in Marqeta by 2.5% during the third quarter. ZWJ Investment Counsel Inc. now owns 2,038,246 shares of the company’s stock worth $10,028,000 after purchasing an additional 49,104 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Marqeta by 263.0% during the third quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company’s stock worth $6,499,000 after purchasing an additional 956,992 shares during the last quarter. 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.