Analysts Set Marqeta, Inc. (NASDAQ:MQ) Target Price at $5.65

Shares of Marqeta, Inc. (NASDAQ:MQ) have earned a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $5.65.

MQ has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut Marqeta from a “buy” rating to a “hold” rating and reduced their price target for the stock from $9.00 to $4.00 in a research report on Tuesday, November 5th. The Goldman Sachs Group cut their price objective on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Susquehanna lowered their price target on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. Finally, William Blair downgraded shares of Marqeta from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th.

Marqeta Stock Performance

Shares of NASDAQ:MQ opened at $3.51 on Thursday. The stock’s 50-day simple moving average is $3.76 and its two-hundred day simple moving average is $4.40. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 175.50 and a beta of 1.52. Marqeta has a 52-week low of $3.37 and a 52-week high of $7.36.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $135.79 million for the quarter, compared to the consensus estimate of $132.71 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. As a group, equities analysts forecast that Marqeta will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Marqeta

Several hedge funds have recently modified their holdings of MQ. Congress Asset Management Co. increased its holdings in shares of Marqeta by 46.8% in the 3rd quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock worth $5,194,000 after buying an additional 336,349 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Marqeta by 107.0% in the third quarter. Harbor Capital Advisors Inc. now owns 248,968 shares of the company’s stock worth $1,225,000 after acquiring an additional 128,717 shares in the last quarter. Olympiad Research LP bought a new stake in Marqeta during the third quarter worth approximately $113,000. Atria Investments Inc raised its position in Marqeta by 32.7% during the third quarter. Atria Investments Inc now owns 37,485 shares of the company’s stock valued at $184,000 after purchasing an additional 9,235 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Marqeta by 6.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 370,070 shares of the company’s stock valued at $1,821,000 after purchasing an additional 23,729 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

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.