Brokerages Set Marqeta, Inc. (NASDAQ:MQ) Target Price at $5.22

Marqeta, Inc. (NASDAQ:MQ) has earned an average recommendation of “Reduce” from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $5.2188.

Several brokerages have recently issued reports on MQ. JPMorgan Chase & Co. began coverage on shares of Marqeta in a report on Tuesday, February 17th. They issued an “overweight” rating and a $6.00 target price for the company. UBS Group upped their target price on shares of Marqeta from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Morgan Stanley lowered their target price on shares of Marqeta from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Marqeta in a research report on Friday, March 27th.

Marqeta Stock Performance

Shares of MQ stock opened at $3.83 on Wednesday. Marqeta has a fifty-two week low of $3.70 and a fifty-two week high of $7.04. The stock has a market capitalization of $1.62 billion, a P/E ratio of 383.38 and a beta of 1.32. The company has a 50 day moving average price of $4.07 and a 200 day moving average price of $4.28.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.02 EPS for the quarter. Marqeta had a net margin of 0.33% and a return on equity of 0.27%. The company had revenue of $165.80 million during the quarter, compared to analysts’ expectations of $164.30 million. During the same quarter in the previous year, the business posted ($0.02) EPS. The firm’s revenue was up 19.2% on a year-over-year basis. On average, research analysts forecast that Marqeta will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Elaine Paul sold 17,452 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $4.47, for a total value of $78,010.44. Following the completion of the sale, the director owned 17,453 shares in the company, valued at $78,014.91. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.61% of the stock is currently owned by company insiders.

Institutional Trading of Marqeta

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new stake in Marqeta in the 3rd quarter valued at $26,000. Western Wealth Management LLC purchased a new stake in Marqeta in the 1st quarter valued at $27,000. EFG International AG purchased a new stake in Marqeta in the 4th quarter valued at $27,000. CWM LLC raised its position 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, Leonteq Securities AG purchased a new stake in Marqeta in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

About Marqeta

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.