Marqeta (NASDAQ:MQ) PT Lowered to $8.00

Marqeta (NASDAQ:MQ) had its target price decreased by investment analysts at UBS Group from $8.50 to $8.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target points to a potential upside of 49.53% from the stock’s previous close.

A number of other analysts also recently commented on MQ. William Blair reissued an “outperform” rating on shares of Marqeta in a report on Wednesday, May 8th. Wells Fargo & Company upgraded shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price target for the company in a report on Tuesday, June 25th. JPMorgan Chase & Co. reduced their price objective on shares of Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday. Wedbush reaffirmed a “neutral” rating and issued a $6.00 target price on shares of Marqeta in a research note on Wednesday, May 8th. Finally, Keefe, Bruyette & Woods cut their price target on Marqeta from $7.00 to $6.00 and set a “market perform” rating for the company in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.90.

Marqeta Price Performance

Shares of NASDAQ:MQ remained flat at $5.35 during trading on Friday. 5,712,417 shares of the stock traded hands, compared to its average volume of 5,034,981. The company has a 50-day moving average of $5.31 and a 200 day moving average of $5.68. Marqeta has a twelve month low of $4.40 and a twelve month high of $7.36. The stock has a market capitalization of $2.77 billion, a PE ratio of -14.86 and a beta of 1.78.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. Marqeta had a negative return on equity of 11.84% and a negative net margin of 32.98%. The firm had revenue of $125.30 million for the quarter, compared to the consensus estimate of $121.87 million. During the same quarter last year, the business posted ($0.07) EPS. The firm’s quarterly revenue was down 45.8% compared to the same quarter last year. As a group, analysts forecast that Marqeta will post 0.01 EPS for the current fiscal year.

Insider Transactions at Marqeta

In other news, Director Martha Cummings sold 40,241 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $5.47, for a total transaction of $220,118.27. Following the completion of the sale, the director now directly owns 19,000 shares in the company, valued at $103,930. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.12% of the company’s stock.

Institutional Investors Weigh In On Marqeta

Hedge funds and other institutional investors have recently modified their holdings of the stock. Avior Wealth Management LLC raised its position in shares of Marqeta by 8.8% during the 4th quarter. Avior Wealth Management LLC now owns 21,253 shares of the company’s stock valued at $148,000 after acquiring an additional 1,719 shares in the last quarter. Renaissance Capital LLC raised its holdings in shares of Marqeta by 1.2% during the first quarter. Renaissance Capital LLC now owns 307,662 shares of the company’s stock worth $1,834,000 after purchasing an additional 3,523 shares during the period. Aigen Investment Management LP lifted its position in shares of Marqeta by 13.9% in the 4th quarter. Aigen Investment Management LP now owns 31,999 shares of the company’s stock worth $223,000 after buying an additional 3,904 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Marqeta by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock valued at $281,000 after buying an additional 3,979 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock valued at $26,000 after buying an additional 4,335 shares during the period. 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.