Marqeta, Inc. (NASDAQ:MQ) Receives $5.22 Consensus Target Price from Brokerages

Marqeta, Inc. (NASDAQ:MQ) has earned an average rating of “Reduce” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $5.2188.

MQ has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a report on Friday, March 27th. UBS Group increased their price objective on Marqeta from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Morgan Stanley decreased their price objective on Marqeta from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. assumed coverage on Marqeta in a report on Tuesday, February 17th. They set an “overweight” rating and a $6.00 price objective for the company.

Marqeta Stock Up 1.0%

Marqeta stock opened at $4.00 on Friday. The business has a fifty day moving average of $4.11 and a two-hundred day moving average of $4.38. The firm has a market cap of $1.70 billion, a P/E ratio of 400.40 and a beta of 1.35. Marqeta has a twelve month low of $3.70 and a twelve month high of $7.04.

Marqeta (NASDAQ:MQ) last posted its earnings results on Tuesday, May 5th. The company reported $0.02 earnings per share for the quarter. The company had revenue of $165.80 million during the quarter, compared to analyst estimates of $164.30 million. Marqeta had a return on equity of 0.27% and a net margin of 0.33%.Marqeta’s revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share. Equities analysts expect that Marqeta will post 0.04 earnings per share for the current year.

Insider Buying and Selling at Marqeta

In other Marqeta news, Director Judson C. Linville acquired 25,570 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was purchased at an average price of $3.93 per share, for a total transaction of $100,490.10. Following the acquisition, the director owned 104,220 shares in the company, valued at approximately $409,584.60. This trade represents a 32.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elaine Paul sold 17,452 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $4.47, for a total value of $78,010.44. Following the sale, the director owned 17,453 shares of the company’s stock, valued at approximately $78,014.91. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 12.61% of the company’s stock.

Institutional Trading of Marqeta

Several hedge funds and other institutional investors have recently made changes to their positions in MQ. Capital World Investors purchased a new position in Marqeta in the 4th quarter worth $29,115,000. Wellington Management Group LLP raised its stake in Marqeta by 51.9% in the 3rd quarter. Wellington Management Group LLP now owns 11,798,274 shares of the company’s stock worth $62,295,000 after acquiring an additional 4,029,486 shares during the last quarter. Southpoint Capital Advisors LP purchased a new position in Marqeta in the 1st quarter worth $12,240,000. Marshall Wace LLP raised its stake in Marqeta by 694.3% in the 3rd quarter. Marshall Wace LLP now owns 2,338,737 shares of the company’s stock worth $12,349,000 after acquiring an additional 2,044,290 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Marqeta by 26.8% in the 4th quarter. Invesco Ltd. now owns 8,218,888 shares of the company’s stock worth $39,040,000 after acquiring an additional 1,736,796 shares during the last quarter. 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.