Marqeta, Inc. (NASDAQ:MQ) Receives $5.50 Consensus PT from Analysts

Shares of Marqeta, Inc. (NASDAQ:MQ) have earned a consensus recommendation of “Reduce” from the ten analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $5.50.

MQ has been the topic of several research reports. Keefe, Bruyette & Woods reduced their price target on shares of Marqeta from $6.50 to $6.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 1st. UBS Group reduced their target price on shares of Marqeta from $5.75 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a research report on Monday. Citigroup upgraded shares of Marqeta to a “hold” rating in a research note on Thursday, October 23rd. Finally, The Goldman Sachs Group set a $5.00 price objective on Marqeta and gave the company a “sell” rating in a research note on Monday, October 13th.

Marqeta Stock Up 2.0%

Shares of NASDAQ MQ opened at $5.07 on Wednesday. The business’s 50 day moving average is $4.75 and its two-hundred day moving average is $5.42. Marqeta has a 52-week low of $3.47 and a 52-week high of $7.04. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -63.38 and a beta of 1.48.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $163.31 million during the quarter, compared to analysts’ expectations of $148.37 million. Marqeta had a negative return on equity of 4.22% and a negative net margin of 6.74%.The company’s revenue was up 27.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) earnings per share. Analysts anticipate that Marqeta will post 0.06 EPS for the current fiscal year.

Insider Transactions at Marqeta

In other news, Director Jason M. Gardner sold 69,043 shares of Marqeta stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $5.00, for a total value of $345,215.00. Following the completion of the transaction, the director owned 293,334 shares in the company, valued at approximately $1,466,670. This trade represents a 19.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 218,509 shares of company stock valued at $1,092,545. 12.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MQ. Quarry LP purchased a new stake in shares of Marqeta in the 3rd quarter valued at approximately $26,000. Nisa Investment Advisors LLC grew its stake in shares of Marqeta by 61.8% during the second quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company’s stock worth $57,000 after purchasing an additional 3,737 shares in the last quarter. Alpine Global Management LLC purchased a new position in Marqeta in the first quarter valued at $42,000. CTC Alternative Strategies Ltd. purchased a new position in Marqeta in the third quarter valued at $55,000. Finally, Abel Hall LLC acquired a new stake in Marqeta in the second quarter valued at $61,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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.