Marqeta (NASDAQ:MQ) Price Target Raised to $4.50

Marqeta (NASDAQ:MQ) had its price target upped by equities researchers at Keefe, Bruyette & Woods from $4.00 to $4.50 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 2.17% from the stock’s current price.

MQ has been the topic of a number of other reports. Wells Fargo & Company decreased their price target on Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. The Goldman Sachs Group dropped their target price on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.00.

Marqeta Trading Up 2.4 %

NASDAQ MQ opened at $4.60 on Thursday. The stock has a fifty day simple moving average of $4.07 and a 200-day simple moving average of $4.02. The stock has a market cap of $2.32 billion, a PE ratio of 230.00 and a beta of 1.41. Marqeta has a twelve month low of $3.37 and a twelve month high of $6.01.

Marqeta (NASDAQ:MQ) last announced its earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $139.07 million during the quarter, compared to analyst estimates of $135.66 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. Marqeta’s revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) earnings per share. Research analysts predict that Marqeta will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Marqeta

Large investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new position in shares of Marqeta during the 4th quarter worth about $33,000. Blueshift Asset Management LLC acquired a new position in Marqeta in the fourth quarter valued at approximately $38,000. Covestor Ltd increased its stake in Marqeta by 1,255.4% in the fourth quarter. Covestor Ltd now owns 10,030 shares of the company’s stock valued at $38,000 after purchasing an additional 9,290 shares during the last quarter. Bank of Montreal Can raised its holdings in Marqeta by 125.6% during the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock worth $38,000 after purchasing an additional 49,243 shares in the last quarter. Finally, Stifel Financial Corp purchased a new stake in shares of Marqeta during the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Company Profile

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.