Marqeta (NASDAQ:MQ) Given New $20.00 Price Target at Morgan Stanley

Marqeta (NASDAQ:MQ) had its target price boosted by research analysts at Morgan Stanley from $5.00 to $20.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 392.61% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a research report on Wednesday, June 24th. UBS Group upped their price target on Marqeta from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Marqeta presently has an average rating of “Reduce” and an average price target of $20.88.

Marqeta Stock Down 2.9%

Marqeta stock opened at $4.06 on Wednesday. Marqeta has a twelve month low of $3.70 and a twelve month high of $7.04. The firm has a 50 day moving average price of $4.04 and a 200-day moving average price of $4.22. The company has a market capitalization of $1.72 billion, a P/E ratio of 406.41 and a beta of 1.32.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.09. The company had revenue of $165.80 million during the quarter, compared to analyst estimates of $164.30 million. Marqeta had a net margin of 0.33% and a return on equity of 0.27%. Marqeta’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) EPS. Equities analysts expect that Marqeta will post 0.04 EPS for the current fiscal year.

Insider Activity at Marqeta

In other Marqeta news, Director Elaine Paul sold 4,537 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $15.20, for a total value of $68,962.40. Following the transaction, the director owned 8,900 shares in the company, valued at approximately $135,280. The trade was a 33.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.61% of the stock is currently owned by insiders.

Institutional Trading of Marqeta

Several large investors have recently bought and sold shares of MQ. Tudor Investment Corp ET AL grew its stake in shares of Marqeta by 1,078.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,405,491 shares of the company’s stock worth $7,421,000 after buying an additional 1,286,258 shares during the last quarter. Abbington Investment Group purchased a new position in Marqeta in the 4th quarter worth approximately $1,939,000. SG Americas Securities LLC lifted its position in Marqeta by 603.5% in the 4th quarter. SG Americas Securities LLC now owns 1,095,787 shares of the company’s stock valued at $5,205,000 after acquiring an additional 940,022 shares in the last quarter. Donor Advised Charitable Giving Inc. purchased a new stake in Marqeta during the 4th quarter valued at $1,257,000. Finally, JPMorgan Chase & Co. boosted its stake in Marqeta by 271.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,335,320 shares of the company’s stock valued at $7,050,000 after purchasing an additional 975,861 shares during the last quarter. 78.64% of the stock is owned by institutional investors.

Marqeta Company Profile

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.