UBS Group Cuts Marqeta (NASDAQ:MQ) Price Target to $4.25

Marqeta (NASDAQ:MQ) had its price objective decreased by UBS Group from $5.00 to $4.25 in a report published on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Wolfe Research cut Marqeta from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Zacks Research cut Marqeta from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. JPMorgan Chase & Co. assumed coverage on Marqeta in a research note on Tuesday, February 17th. They issued an “overweight” rating and a $6.00 price target for the company. Mizuho reaffirmed a “neutral” rating and issued a $4.50 price objective (down from $8.00) on shares of Marqeta in a report on Thursday, January 8th. Finally, Keefe, Bruyette & Woods dropped their target price on Marqeta from $6.00 to $5.50 and set a “market perform” rating for the company in a report on Friday, January 2nd. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Marqeta currently has an average rating of “Reduce” and an average target price of $5.14.

Marqeta Price Performance

NASDAQ:MQ opened at $3.84 on Wednesday. The company has a market cap of $1.69 billion, a P/E ratio of -128.00 and a beta of 1.48. The firm’s fifty day moving average price is $4.40 and its two-hundred day moving average price is $4.95. Marqeta has a one year low of $3.47 and a one year high of $7.04.

Marqeta (NASDAQ:MQ) last posted its earnings results on Tuesday, February 24th. The company reported $0.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.01. The company had revenue of $172.11 million during the quarter, compared to analysts’ expectations of $167.05 million. Marqeta had a negative net margin of 2.23% and a negative return on equity of 1.62%. Marqeta’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) EPS. As a group, equities research analysts expect that Marqeta will post 0.06 earnings per share for the current year.

Insider Activity

In other news, Director Jason M. Gardner sold 69,043 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $5.00, for a total transaction of $345,215.00. Following the sale, the director directly owned 293,334 shares of the company’s stock, valued at approximately $1,466,670. This represents a 19.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 218,509 shares of company stock worth $1,092,545. Corporate insiders own 12.61% of the company’s stock.

Institutional Investors Weigh In On Marqeta

A number of large investors have recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in shares of Marqeta by 193.0% during the 3rd quarter. Nordea Investment Management AB now owns 2,360,309 shares of the company’s stock worth $12,510,000 after acquiring an additional 1,554,741 shares during the period. State Board of Administration of Florida Retirement System raised its position in Marqeta by 272.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 520,956 shares of the company’s stock valued at $3,037,000 after purchasing an additional 381,016 shares in the last quarter. Norges Bank bought a new stake in Marqeta during the second quarter worth $4,057,000. Citizens Financial Group Inc. RI acquired a new stake in shares of Marqeta in the 2nd quarter valued at $460,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Marqeta by 2,582.3% in the 3rd quarter. Principal Financial Group Inc. now owns 719,166 shares of the company’s stock valued at $3,797,000 after purchasing an additional 692,354 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Company Profile

Marqeta is a modern card issuing and payment processing platform that enables businesses to design, launch and manage customized payment cards. The company offers a fully programmable open API that allows clients to create virtual, physical and tokenized payment cards with real-time transaction controls and dynamic spend limits. By leveraging Marqeta’s infrastructure, companies can streamline their payment operations, reduce time to market and deliver tailored payment experiences to end consumers.

Founded in 2010 and headquartered in Oakland, California, Marqeta was established by CEO Jason Gardner with the goal of transforming traditional card issuance through cloud-native technology.