Marqeta, Inc. (NASDAQ:MQ) Receives $5.50 Consensus Target Price from Analysts

Marqeta, Inc. (NASDAQ:MQ) has received a consensus rating of “Reduce” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $5.50.

A number of brokerages have recently issued reports on MQ. Keefe, Bruyette & Woods dropped their price target on shares of Marqeta from $6.00 to $5.50 and set a “market perform” rating on the stock in a research note on Friday, January 2nd. Mizuho reiterated a “neutral” rating and set a $4.50 target price (down previously from $8.00) on shares of Marqeta in a research report on Thursday, January 8th. Citigroup raised Marqeta to a “hold” rating in a report on Thursday, October 23rd. Wolfe Research lowered Marqeta from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Marqeta in a research report on Monday, December 29th.

Marqeta Stock Down 2.8%

NASDAQ:MQ traded down $0.12 during midday trading on Thursday, reaching $4.04. The stock had a trading volume of 1,366,330 shares, compared to its average volume of 3,340,199. The stock has a market cap of $1.78 billion, a P/E ratio of -50.44 and a beta of 1.48. The firm has a fifty day simple moving average of $4.60 and a two-hundred day simple moving average of $5.10. Marqeta has a 12-month low of $3.47 and a 12-month high of $7.04.

Insider Activity

In related news, Director Jason M. Gardner sold 113,366 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $5.00, for a total value of $566,830.00. Following the completion of the sale, the director owned 303,467 shares in the company, valued at $1,517,335. This trade represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 218,509 shares of company stock valued at $1,092,545. Company insiders own 12.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MQ. Quarry LP acquired a new stake in Marqeta during the 3rd quarter valued at $26,000. CWM LLC boosted its stake in shares of Marqeta by 82.2% during the fourth quarter. CWM LLC now owns 6,254 shares of the company’s stock valued at $30,000 after acquiring an additional 2,821 shares during the last quarter. Leonteq Securities AG purchased a new stake in Marqeta during the 4th quarter worth about $33,000. CTC Alternative Strategies Ltd. acquired a new position in Marqeta in the 3rd quarter valued at about $55,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Marqeta by 61.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company’s stock valued at $57,000 after purchasing an additional 3,737 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.