Brokerages Set Marqeta, Inc. (NASDAQ:MQ) Target Price at $5.75

Shares of Marqeta, Inc. (NASDAQ:MQ) have received a consensus rating of “Hold” from the sixteen ratings firms that are covering the stock, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $5.75.

Several research firms recently issued reports on MQ. Barclays reaffirmed an “equal weight” rating and set a $4.00 price objective (down from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Susquehanna decreased their price objective on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. Morgan Stanley decreased their price objective on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. William Blair downgraded shares of Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group decreased their price objective on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Monday, December 2nd.

Marqeta Stock Up 1.3 %

MQ stock opened at $3.96 on Friday. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 198.00 and a beta of 1.52. Marqeta has a 12 month low of $3.37 and a 12 month high of $7.36. The firm has a 50 day moving average of $3.83 and a two-hundred day moving average of $4.60.

Marqeta (NASDAQ:MQ) last posted its earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The business’s revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) earnings per share. On average, research analysts expect that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Marqeta

Hedge funds have recently added to or reduced their stakes in the stock. Congress Asset Management Co. grew its holdings in Marqeta by 46.8% during the 3rd quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock worth $5,194,000 after acquiring an additional 336,349 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Marqeta by 107.8% in the 4th quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock valued at $3,265,000 after purchasing an additional 441,617 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Marqeta in the 3rd quarter valued at about $1,466,000. Main Management ETF Advisors LLC bought a new position in shares of Marqeta in the 3rd quarter valued at about $786,000. Finally, GSA Capital Partners LLP boosted its stake in shares of Marqeta by 671.7% in the 3rd quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock valued at $1,153,000 after purchasing an additional 204,026 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

Marqeta Company Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.