Marqeta, Inc. (NASDAQ:MQ) Stock Has Consensus Price Target of $19.75 According to Brokerages

Marqeta, Inc. (NASDAQ:MQ) has earned an average recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $19.75.

MQ has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on Marqeta from $4.50 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Weiss Ratings upgraded shares of Marqeta from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Zacks Research raised shares of Marqeta from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Marqeta from $18.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 5th.

Insiders Place Their Bets

In related news, CRO Todd Pollak sold 18,750 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.88, for a total value of $316,500.00. Following the completion of the transaction, the executive directly owned 185,008 shares in the company, valued at $3,122,935.04. The trade was a 9.20% decrease in their position. The sale 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. 13.71% of the stock is currently owned by insiders.

Institutional Trading of Marqeta

A number of institutional investors and hedge funds have recently modified their holdings of MQ. Capital World Investors purchased a new position in shares of Marqeta during the 4th quarter worth $29,115,000. Wellington Management Group LLP increased its stake in shares of Marqeta by 36.7% in the 2nd quarter. Wellington Management Group LLP now owns 13,887,312 shares of the company’s stock worth $56,382,000 after purchasing an additional 3,727,289 shares in the last quarter. Southpoint Capital Advisors LP purchased a new stake in shares of Marqeta in the 1st quarter worth $12,240,000. North Reef Capital Management LP raised its holdings in Marqeta by 23.3% in the 1st quarter. North Reef Capital Management LP now owns 7,400,000 shares of the company’s stock worth $30,192,000 after purchasing an additional 1,400,000 shares during the period. Finally, Counterpoint Mutual Funds LLC lifted its position in Marqeta by 1,609.5% during the first quarter. Counterpoint Mutual Funds LLC now owns 1,035,609 shares of the company’s stock valued at $4,225,000 after purchasing an additional 975,031 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.

Marqeta Price Performance

Shares of Marqeta stock opened at $16.44 on Friday. Marqeta has a 1 year low of $14.80 and a 1 year high of $22.28. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 149.45 and a beta of 1.29. The company has a 50-day moving average of $16.51 and a 200 day moving average of $16.34.

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

About Marqeta

Marqeta, Inc is a financial technology company that provides modern card-issuing and payment-processing infrastructure. Its cloud-based platform enables businesses to create, launch and manage physical, virtual and tokenized payment cards through application programming interfaces (APIs), without building a payments system from the ground up.

The company’s services include card issuance, transaction processing, payment authorization, fraud and risk management, digital wallet tokenization, real-time transaction controls and just-in-time funding.