Marqeta, Inc. (NASDAQ:MQ) Receives $20.12 Average PT from Brokerages

Shares of Marqeta, Inc. (NASDAQ:MQ) have earned a consensus rating of “Reduce” from the eleven analysts that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $20.1250.

Several research firms have recently weighed in on MQ. Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a research note on Wednesday, June 24th. UBS Group upped their price objective on shares of Marqeta from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Marqeta from $4.50 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $17.36 on Thursday. Marqeta has a 1 year low of $14.80 and a 1 year high of $28.16. The firm has a market capitalization of $1.84 billion, a PE ratio of 434.11 and a beta of 1.31. The business’s 50 day moving average price is $16.34 and its 200-day moving average price is $16.48.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. Marqeta had a return on equity of 0.27% and a net margin of 0.33%.The firm had revenue of $165.80 million during the quarter, compared to the consensus estimate of $164.30 million. During the same period in the prior year, the company earned ($0.08) EPS. The firm’s revenue was up 19.2% compared to the same quarter last year. As a group, analysts expect that Marqeta will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In other Marqeta news, CRO Todd Pollak sold 18,750 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $16.88, for a total transaction of $316,500.00. Following the transaction, the executive owned 185,008 shares of the company’s stock, valued at approximately $3,122,935.04. The trade was a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Elaine Paul sold 4,537 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $15.20, for a total value of $68,962.40. Following the completion of the sale, the director owned 8,900 shares of the company’s stock, valued at approximately $135,280. The trade was a 33.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MQ. Certuity LLC grew its holdings in shares of Marqeta by 22.3% in the third quarter. Certuity LLC now owns 14,235 shares of the company’s stock valued at $75,000 after purchasing an additional 2,596 shares during the period. Mariner LLC boosted its holdings in Marqeta by 4.2% in the 4th quarter. Mariner LLC now owns 66,765 shares of the company’s stock valued at $317,000 after purchasing an additional 2,670 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Marqeta by 2.7% in the 3rd quarter. Victory Capital Management Inc. now owns 101,567 shares of the company’s stock valued at $536,000 after purchasing an additional 2,711 shares during the last quarter. CWM LLC boosted its holdings in Marqeta by 82.2% in the 4th quarter. CWM LLC now owns 6,254 shares of the company’s stock valued at $30,000 after purchasing an additional 2,821 shares during the last quarter. Finally, DRW Securities LLC grew its stake in shares of Marqeta by 8.1% in the 4th quarter. DRW Securities LLC now owns 41,224 shares of the company’s stock valued at $196,000 after buying an additional 3,104 shares during the period. Institutional investors and hedge funds own 78.64% of the company’s stock.

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.