UBS Group Forecasts Strong Price Appreciation for Marqeta (NASDAQ:MQ) Stock

Marqeta (NASDAQ:MQ) had its price objective boosted by analysts at UBS Group from $19.00 to $21.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group‘s target price would suggest a potential upside of 13.88% from the company’s previous close.

Several other equities analysts also recently commented on MQ. Keefe, Bruyette & Woods boosted their price target 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. Susquehanna reiterated a “positive” rating and issued a $25.00 price objective on shares of Marqeta in a research note on Wednesday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marqeta in a report on Tuesday. Finally, Zacks Research cut Marqeta from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 13th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.71.

Marqeta Price Performance

Shares of MQ stock traded down $0.16 during trading on Thursday, reaching $18.44. The company’s stock had a trading volume of 1,000,927 shares, compared to its average volume of 989,905. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 14.87 and a beta of 1.02. The stock’s 50-day moving average price is $17.22 and its 200 day moving average price is $16.62. Marqeta has a 1-year low of $14.80 and a 1-year high of $22.28.

Marqeta (NASDAQ:MQ) last announced its earnings results on Tuesday, November 3rd. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $1.03. The firm had revenue of $176.18 million for the quarter, compared to the consensus estimate of $175.40 million. Marqeta had a net margin of 18.76% and a return on equity of 3.39%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. On average, sell-side analysts anticipate that Marqeta will post 0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Marqeta

Large investors have recently modified their holdings of the company. Western Wealth Management LLC acquired a new stake in shares of Marqeta in the 1st quarter valued at $27,000. Financial Solutions Advisory Group Inc. purchased a new stake in shares of Marqeta during the 1st quarter worth $41,000. Parallel Advisors LLC acquired a new position in shares of Marqeta during the third quarter worth $67,000. Amundi raised its stake in Marqeta by 99.6% in the first quarter. Amundi now owns 20,301 shares of the company’s stock valued at $83,000 after buying an additional 10,129 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in Marqeta in the second quarter valued at $95,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Company Profile

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

The company’s platform supports card authorization and transaction processing, digital wallets, payment tokenization, fraud prevention and configurable spending controls.