Marqeta, Inc. (NASDAQ:MQ) Receives $5.22 Average PT from Analysts

Marqeta, Inc. (NASDAQ:MQ) has been given an average recommendation of “Reduce” by the eleven research firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $5.2188.

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

Marqeta Stock Up 0.5%

Shares of Marqeta stock opened at $3.97 on Friday. The stock has a market capitalization of $1.68 billion, a P/E ratio of 397.40 and a beta of 1.35. The company has a 50-day simple moving average of $4.10 and a 200 day simple moving average of $4.37. Marqeta has a 12-month low of $3.70 and a 12-month high of $7.04.

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

Insider Activity

In related news, Director Judson C. Linville acquired 25,570 shares of the stock in a transaction on Friday, February 27th. The stock was purchased at an average price of $3.93 per share, for a total transaction of $100,490.10. Following the transaction, the director owned 104,220 shares of the company’s stock, valued at $409,584.60. The trade was a 32.51% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elaine Paul sold 17,452 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $4.47, for a total transaction of $78,010.44. Following the completion of the sale, the director owned 17,453 shares of the company’s stock, valued at $78,014.91. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 12.61% of the company’s stock.

Institutional Investors Weigh In On Marqeta

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB boosted its stake in shares of Marqeta by 193.0% in the 3rd quarter. Nordea Investment Management AB now owns 2,360,309 shares of the company’s stock valued at $12,510,000 after purchasing an additional 1,554,741 shares during the last quarter. Tudor Investment Corp ET AL boosted its stake in shares of Marqeta by 1,078.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,405,491 shares of the company’s stock valued at $7,421,000 after purchasing an additional 1,286,258 shares during the last quarter. Principal Financial Group Inc. boosted its stake 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 during the last quarter. Abbington Investment Group bought a new position in shares of Marqeta in the 4th quarter valued at about $1,939,000. Finally, SG Americas Securities LLC boosted its stake in shares of Marqeta by 603.5% in the 4th quarter. SG Americas Securities LLC now owns 1,095,787 shares of the company’s stock valued at $5,205,000 after purchasing an additional 940,022 shares during the last quarter. 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.