Marqeta, Inc. (NASDAQ:MQ) Receives $19.75 Average PT from Brokerages

Marqeta, Inc. (NASDAQ:MQ) has earned an average rating of “Hold” from the eleven brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $19.75.

A number of research analysts have recently issued reports on the company. Weiss Ratings upgraded Marqeta from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft upped their price objective on Marqeta from $4.50 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Zacks Research upgraded Marqeta from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Marqeta from $18.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th.

Insider Activity

In other news, CRO Todd Pollak sold 18,750 shares of Marqeta stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.88, for a total value of $316,500.00. Following the transaction, the executive owned 185,008 shares of the company’s stock, valued at $3,122,935.04. The trade was a 9.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marqeta

Several institutional investors have recently bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Marqeta in the second quarter worth $98,000. AXQ Capital LP purchased a new stake in shares of Marqeta during the 2nd quarter valued at $95,000. Wellington Management Group LLP lifted its holdings in shares of Marqeta by 36.7% during the 2nd quarter. Wellington Management Group LLP now owns 13,887,312 shares of the company’s stock valued at $56,382,000 after purchasing an additional 3,727,289 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Marqeta in the 2nd quarter worth $525,000. Finally, Uber Technologies Inc acquired a new stake in shares of Marqeta in the 2nd quarter worth $2,193,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Stock Performance

NASDAQ MQ opened at $15.57 on Friday. The company has a market cap of $1.62 billion, a PE ratio of 141.55 and a beta of 1.29. The firm’s 50 day moving average price is $16.59 and its 200-day moving average price is $16.34. Marqeta has a 52-week low of $14.80 and a 52-week high of $23.33.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The company had revenue of $176.00 million during the quarter, compared to the consensus estimate of $172.96 million. Marqeta had a net margin of 1.53% and a return on equity of 1.36%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, analysts forecast that Marqeta will post 0.28 earnings per share for the current fiscal year.

Marqeta Company Profile

Marqeta, Inc is a financial technology company that provides modern card-issuing and payment-processing infrastructure. Its cloud-based platform enables businesses to create, launch and manage physical, virtual and tokenized payment cards through application programming interfaces (APIs), without building a payments system from the ground up.

The company’s services include card issuance, transaction processing, payment authorization, fraud and risk management, digital wallet tokenization, real-time transaction controls and just-in-time funding.