Marqeta, Inc. (NASDAQ:MQ) Stock Has Average Target Price of $19.71

Marqeta, Inc. (NASDAQ:MQ) has been assigned a consensus rating of “Hold” from the ten analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $19.71.

MQ has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Marqeta from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods upped their target price on shares of Marqeta from $18.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft increased their target price on Marqeta from $4.50 to $18.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Finally, Zacks Research cut Marqeta from a “strong-buy” rating to a “hold” rating in a research note on Tuesday.

Hedge Funds Weigh In On Marqeta

Several institutional investors have recently modified their holdings of the company. Western Wealth Management LLC purchased a new stake in Marqeta in the first quarter worth approximately $27,000. Financial Solutions Advisory Group Inc. purchased a new position in shares of Marqeta during the first quarter worth approximately $41,000. Parallel Advisors LLC raised its stake in shares of Marqeta by 187.2% during the first quarter. Parallel Advisors LLC now owns 19,515 shares of the company’s stock worth $80,000 after acquiring an additional 12,721 shares in the last quarter. Amundi raised its stake in shares of Marqeta by 99.6% during the first quarter. Amundi now owns 20,301 shares of the company’s stock worth $83,000 after acquiring an additional 10,129 shares in the last quarter. Finally, AXQ Capital LP bought a new stake in shares of Marqeta in the 2nd quarter worth approximately $95,000. 78.64% of the stock is currently owned by institutional investors.

Marqeta Stock Up 4.5%

NASDAQ:MQ opened at $18.99 on Tuesday. The stock has a market cap of $1.98 billion, a P/E ratio of 172.64 and a beta of 1.21. The business’s 50-day moving average price is $16.51 and its two-hundred day moving average price is $16.46. Marqeta has a twelve month low of $14.80 and a twelve month high of $22.28.

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

About Marqeta

Marqeta, Inc is a financial technology company that provides a modern card-issuing and payment-processing platform. Its cloud-based infrastructure enables businesses to create, launch and manage physical, virtual and tokenized payment cards through application programming interfaces (APIs), without building a card program and processing network entirely in-house.

The Marqeta platform supports transaction processing, authorization, funding, digital wallet integration, card controls and fraud prevention.