Marqeta (NASDAQ:MQ) Stock Price Up 5.9% – Should You Buy?

Marqeta, Inc. (NASDAQ:MQ)’s share price traded up 5.9% during trading on Monday . The stock traded as high as $3.97 and last traded at $3.99. 742,958 shares traded hands during trading, a decline of 81% from the average session volume of 3,839,645 shares. The stock had previously closed at $3.77.

Analysts Set New Price Targets

MQ has been the topic of several recent analyst reports. Keefe, Bruyette & Woods decreased their price target on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a research note on Monday, January 6th. Mizuho dropped their target price on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. The Goldman Sachs Group reduced their price target on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Monness Crespi & Hardt lowered shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a report on Tuesday, November 5th. Finally, Barclays reiterated an “equal weight” rating and issued a $4.00 target price (down previously from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.75.

Marqeta Stock Performance

The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 192.75 and a beta of 1.52. The business’s 50-day simple moving average is $3.83 and its 200-day simple moving average is $4.63.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The business had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. During the same period in the previous year, the business posted ($0.07) earnings per share. Marqeta’s revenue was up 20.8% compared to the same quarter last year. On average, analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Institutional Trading of Marqeta

A number of institutional investors and hedge funds have recently modified their holdings of MQ. Baader Bank Aktiengesellschaft increased its position in shares of Marqeta by 12.1% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 105,457 shares of the company’s stock valued at $399,000 after buying an additional 11,356 shares in the last quarter. KBC Group NV increased its holdings in shares of Marqeta by 68.8% in the fourth quarter. KBC Group NV now owns 22,546 shares of the company’s stock worth $85,000 after acquiring an additional 9,186 shares in the last quarter. apricus wealth LLC bought a new stake in shares of Marqeta in the fourth quarter worth about $51,000. Tallon Kerry Patrick bought a new position in shares of Marqeta during the 4th quarter valued at about $98,000. Finally, Nordea Investment Management AB grew its position in shares of Marqeta by 107.8% in the 4th quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock valued at $3,265,000 after purchasing an additional 441,617 shares during the period. 78.64% of the stock is owned by institutional investors.

About Marqeta

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.