Brokerages Set Marqeta, Inc. (NASDAQ:MQ) Price Target at $20.12

Shares of Marqeta, Inc. (NASDAQ:MQ) have been assigned an average recommendation of “Reduce” from the eleven research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $20.1250.

Several analysts have weighed in on MQ shares. Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a report on Wednesday, June 24th. UBS Group increased their price objective on shares of Marqeta from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Marqeta from $4.50 to $18.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd.

Insider Transactions at Marqeta

In other news, CRO Todd Pollak sold 18,750 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $16.88, for a total transaction of $316,500.00. Following the completion of the transaction, the executive directly owned 185,008 shares in the company, valued at approximately $3,122,935.04. The trade was a 9.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Elaine Paul sold 4,537 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $15.20, for a total value of $68,962.40. Following the completion of the sale, the director directly owned 8,900 shares of the company’s stock, valued at approximately $135,280. This trade represents a 33.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 27,650 shares of company stock valued at $463,473 in the last quarter. 12.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MQ. Quarry LP bought a new stake in shares of Marqeta in the 3rd quarter valued at $26,000. Western Wealth Management LLC bought a new position in Marqeta during the first quarter worth about $27,000. EFG International AG acquired a new position in Marqeta in the fourth quarter valued at about $27,000. CWM LLC increased its holdings in shares of Marqeta by 82.2% in the fourth quarter. CWM LLC now owns 6,254 shares of the company’s stock worth $30,000 after acquiring an additional 2,821 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in shares of Marqeta in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Price Performance

Shares of Marqeta stock opened at $15.93 on Friday. The firm has a 50 day simple moving average of $16.11 and a 200 day simple moving average of $16.76. Marqeta has a fifty-two week low of $14.80 and a fifty-two week high of $28.16. The firm has a market cap of $1.69 billion, a P/E ratio of 398.35 and a beta of 1.31.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $165.80 million for 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%.The business’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS. On average, sell-side analysts expect that Marqeta will post 0.14 EPS for the current year.

About Marqeta

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.