Marqeta, Inc. (NASDAQ:MQ) Given Average Rating of “Hold” by Brokerages

Shares of Marqeta, Inc. (NASDAQ:MQ) have earned a consensus rating of “Hold” from the sixteen research firms that are covering the firm, Marketbeat reports. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $6.23.

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company downgraded shares of Marqeta from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $7.00 to $5.00 in a research note on Tuesday, November 5th. Morgan Stanley cut their target price on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods dropped their price target on Marqeta from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Tuesday, November 5th. William Blair lowered Marqeta from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Finally, Susquehanna dropped their target price on Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th.

Marqeta Trading Up 3.8 %

Shares of NASDAQ MQ opened at $4.09 on Friday. The stock has a fifty day simple moving average of $4.51 and a two-hundred day simple moving average of $4.99. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.36. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 204.50 and a beta of 1.55.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The business had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $128.05 million. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. Analysts forecast that Marqeta will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Marqeta

A number of large investors have recently made changes to their positions in MQ. Congress Asset Management Co. grew its position in Marqeta by 46.8% during the 3rd quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock worth $5,194,000 after purchasing an additional 336,349 shares during the period. Visa Foundation purchased a new position in Marqeta during the second quarter valued at approximately $68,197,000. Cerity Partners LLC acquired a new position in Marqeta in the third quarter valued at approximately $1,466,000. Main Management ETF Advisors LLC acquired a new stake in shares of Marqeta during the 3rd quarter worth approximately $786,000. Finally, GSA Capital Partners LLP increased its holdings in shares of Marqeta by 671.7% during the 3rd quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock valued at $1,153,000 after purchasing an additional 204,026 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

About Marqeta

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.