Marqeta (NASDAQ:MQ) Upgraded at Mizuho

Marqeta (NASDAQ:MQ) was upgraded by Mizuho from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Price Targets.com reports. The brokerage currently has a $20.00 target price on the stock, down from their prior target price of $27.00. Mizuho’s price target points to a potential upside of 45.88% from the stock’s current price.

MQ has been the subject of a number of other research reports. Truist Securities cut their target price on shares of Marqeta from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, January 10th. Keefe, Bruyette & Woods began coverage on shares of Marqeta in a research report on Thursday, January 6th. They set a “market perform” rating and a $17.00 target price for the company. Sumitomo Mitsui Financial Group began coverage on shares of Marqeta in a research report on Wednesday, November 3rd. They set an “underperform” rating and a $26.00 target price for the company. Truist cut their target price on shares of Marqeta from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, January 10th. Finally, Zacks Investment Research lowered shares of Marqeta from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $27.15.

MQ stock opened at $13.71 on Thursday. Marqeta has a 1 year low of $12.93 and a 1 year high of $37.90. The company has a fifty day simple moving average of $19.10 and a 200 day simple moving average of $23.97.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Wednesday, November 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.12. The business had revenue of $131.51 million during the quarter, compared to analyst estimates of $120.31 million. Marqeta had a negative net margin of 31.31% and a negative return on equity of 20.63%. Equities analysts forecast that Marqeta will post -0.41 earnings per share for the current year.

In other Marqeta news, insider Seth R. Weissman sold 70,000 shares of the company’s stock in a transaction dated Monday, November 29th. The shares were sold at an average price of $20.53, for a total transaction of $1,437,100.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 83North Ii Limited Partnership sold 2,751,468 shares of the company’s stock in a transaction dated Friday, November 12th. The stock was sold at an average price of $25.37, for a total transaction of $69,804,743.16. The disclosure for this sale can be found here.

A number of institutional investors have recently modified their holdings of MQ. Coatue Management LLC lifted its position in shares of Marqeta by 846.9% during the third quarter. Coatue Management LLC now owns 28,449,054 shares of the company’s stock worth $612,409,000 after purchasing an additional 25,444,638 shares in the last quarter. Vitruvian Partners LLP acquired a new position in shares of Marqeta during the second quarter worth approximately $602,556,000. Lone Pine Capital LLC acquired a new position in shares of Marqeta during the second quarter worth approximately $490,574,000. BlackRock Inc. acquired a new position in shares of Marqeta during the second quarter worth approximately $252,130,000. Finally, FMR LLC acquired a new position in shares of Marqeta during the second quarter worth approximately $138,750,000. 23.35% of the stock is currently owned by hedge funds and other institutional investors.

Marqeta Company Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in the various verticals, including commerce disruptors, digital banks, tech giants, and large financial institutions.

Further Reading: Hold Rating

Analyst Recommendations for Marqeta (NASDAQ:MQ)

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