Marqeta, Inc. (NASDAQ:MQ) Given Consensus Recommendation of “Hold” by Analysts

Shares of Marqeta, Inc. (NASDAQ:MQ) have been assigned a consensus rating of “Hold” from the sixteen analysts that are covering the stock, Marketbeat.com 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 12-month price target among brokers that have issued ratings on the stock in the last year is $6.03.

A number of brokerages have weighed in on MQ. Deutsche Bank Aktiengesellschaft cut shares of Marqeta from a “buy” rating to a “hold” rating and cut their price objective for the stock from $9.00 to $4.00 in a report on Tuesday, November 5th. Barclays reaffirmed an “equal weight” rating and set a $4.00 price objective (down previously from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Morgan Stanley cut their target price on Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Susquehanna lowered their price target on Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. Finally, Mizuho cut their price objective on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th.

Marqeta Stock Performance

MQ stock opened at $3.86 on Wednesday. Marqeta has a fifty-two week low of $3.37 and a fifty-two week high of $7.36. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 193.00 and a beta of 1.54. The business’s 50 day moving average price is $4.09 and its two-hundred day moving average price is $4.81.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The firm had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. During the same quarter last year, the company posted ($0.07) EPS. Marqeta’s revenue for the quarter was up 20.8% compared to the same quarter last year. Sell-side analysts forecast that Marqeta will post 0.06 earnings per share for the current year.

Hedge Funds Weigh In On Marqeta

Several institutional investors have recently made changes to their positions in MQ. JPMorgan Chase & Co. raised its stake in shares of Marqeta by 263.0% in the third quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company’s stock worth $6,499,000 after buying an additional 956,992 shares during the period. Barclays PLC increased its holdings in Marqeta by 226.4% in the 3rd quarter. Barclays PLC now owns 861,414 shares of the company’s stock worth $4,238,000 after acquiring an additional 597,539 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Marqeta during the 3rd quarter worth approximately $339,000. Main Management ETF Advisors LLC purchased a new position in Marqeta during the third quarter valued at approximately $786,000. Finally, XTX Topco Ltd increased its stake in shares of Marqeta by 1,359.0% in the third quarter. XTX Topco Ltd now owns 191,586 shares of the company’s stock worth $943,000 after purchasing an additional 178,455 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.

About Marqeta

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.