Marqeta, Inc. (NASDAQ:MQ) Receives Consensus Recommendation of “Hold” from Brokerages

Marqeta, Inc. (NASDAQ:MQ) has been given a consensus recommendation of “Hold” by the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $19.75.

Several equities research analysts recently weighed in on MQ shares. UBS Group boosted their target price on Marqeta from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of Marqeta from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Zacks Research raised shares of Marqeta from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Keefe, Bruyette & Woods upped their price objective on shares of Marqeta from $18.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Marqeta from $4.50 to $18.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd.

Insiders Place Their Bets

In other Marqeta news, 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 transaction of $68,962.40. Following the completion of the sale, the director directly owned 8,900 shares in the company, valued at $135,280. This represents a 33.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Todd Pollak sold 18,750 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $16.88, for a total transaction of $316,500.00. Following the sale, the executive owned 185,008 shares of the company’s stock, valued at $3,122,935.04. This trade represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.71% of the stock is owned by insiders.

Institutional Trading of Marqeta

Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in Marqeta by 18.0% in the 4th quarter. Wellington Management Group LLP now owns 13,927,760 shares of the company’s stock worth $66,157,000 after buying an additional 2,129,486 shares during the period. Renaissance Technologies LLC boosted its position in shares of Marqeta by 2.1% in the first quarter. Renaissance Technologies LLC now owns 11,580,288 shares of the company’s stock valued at $47,248,000 after acquiring an additional 237,933 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Marqeta by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 8,779,290 shares of the company’s stock valued at $35,818,000 after acquiring an additional 567,673 shares during the period. Invesco Ltd. grew its stake in shares of Marqeta by 26.8% in the fourth 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. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Marqeta by 7.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 8,214,458 shares of the company’s stock worth $43,372,000 after acquiring an additional 587,863 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

Marqeta Price Performance

NASDAQ MQ opened at $16.47 on Monday. Marqeta has a fifty-two week low of $14.80 and a fifty-two week high of $25.83. The stock’s 50-day moving average is $16.56 and its two-hundred day moving average is $16.33. The firm has a market cap of $1.71 billion, a P/E ratio of 149.73 and a beta of 1.30.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. The company had revenue of $176.00 million during the quarter, compared to the consensus estimate of $172.96 million. Marqeta had a return on equity of 1.36% and a net margin of 1.53%.The company’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities analysts expect that Marqeta will post 0.28 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.