Marqeta (NASDAQ:MQ) Downgraded by Zacks Research to Hold

Marqeta (NASDAQ:MQ) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

MQ has been the topic of several other research reports. Keefe, Bruyette & Woods raised their price objective on shares of Marqeta from $18.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Marqeta from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Marqeta from $4.50 to $18.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.71.

Marqeta Trading Down 2.0%

NASDAQ MQ opened at $18.18 on Tuesday. Marqeta has a 1-year low of $14.80 and a 1-year high of $22.28. The firm’s fifty day simple moving average is $16.47 and its 200-day simple moving average is $16.44. The company has a market capitalization of $1.89 billion, a PE ratio of 165.27 and a beta of 1.21.

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

Hedge Funds Weigh In On Marqeta

A number of institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its position in shares of Marqeta by 32.4% during the first quarter. California State Teachers Retirement System now owns 469,391 shares of the company’s stock valued at $1,915,000 after buying an additional 114,943 shares during the last quarter. Empowered Funds LLC grew its position in Marqeta by 59.0% during the first quarter. Empowered Funds LLC now owns 93,586 shares of the company’s stock worth $382,000 after buying an additional 34,731 shares in the last quarter. First Trust Advisors LP increased its stake in Marqeta by 33.8% during the first quarter. First Trust Advisors LP now owns 1,034,889 shares of the company’s stock valued at $4,222,000 after acquiring an additional 261,208 shares during the period. Dimensional Fund Advisors LP increased its stake in Marqeta by 6.9% during 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. Finally, Parallel Advisors LLC increased its stake in Marqeta by 187.2% during the first quarter. Parallel Advisors LLC now owns 19,515 shares of the company’s stock valued at $80,000 after acquiring an additional 12,721 shares during the period. Institutional investors own 78.64% of the company’s stock.

Marqeta Company Profile

Marqeta, Inc is a financial technology company that provides a modern card-issuing and payment-processing platform. Its cloud-based infrastructure enables businesses to create, launch and manage physical, virtual and tokenized payment cards through application programming interfaces (APIs), without building a card program and processing network entirely in-house.

The Marqeta platform supports transaction processing, authorization, funding, digital wallet integration, card controls and fraud prevention.