Marqeta (NASDAQ:MQ) Price Target Raised to $4.50 at The Goldman Sachs Group

Marqeta (NASDAQ:MQ) had its target price hoisted by The Goldman Sachs Group from $4.00 to $4.50 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts also recently commented on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a research report on Monday, January 6th. William Blair downgraded Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft downgraded Marqeta from a “buy” rating to a “hold” rating and dropped their price objective for the company from $9.00 to $4.00 in a research note on Tuesday, November 5th. Mizuho dropped their price target on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company decreased their price objective on Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.69.

Marqeta Trading Up 21.1 %

NASDAQ MQ opened at $4.25 on Thursday. Marqeta has a 1 year low of $3.37 and a 1 year high of $7.36. The firm has a market capitalization of $2.14 billion, a P/E ratio of 212.50 and a beta of 1.52. The firm’s fifty day moving average price is $3.77 and its two-hundred day moving average price is $4.40.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.05. The business had revenue of $135.79 million for the quarter, compared to the consensus estimate of $132.71 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. On average, research analysts anticipate that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Congress Asset Management Co. raised its position in Marqeta by 46.8% during the 3rd quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock worth $5,194,000 after buying an additional 336,349 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Marqeta by 107.8% in the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock valued at $3,265,000 after acquiring an additional 441,617 shares in the last quarter. Cerity Partners LLC purchased a new stake in Marqeta during the 3rd quarter valued at about $1,466,000. Main Management ETF Advisors LLC acquired a new position in shares of Marqeta during the 3rd quarter valued at about $786,000. Finally, GSA Capital Partners LLP grew its position in Marqeta by 671.7% in the third quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock worth $1,153,000 after acquiring an additional 204,026 shares during the period. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

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.