Brokerages Set Marqeta, Inc. (NASDAQ:MQ) PT at $5.18

Marqeta, Inc. (NASDAQ:MQ) has received an average recommendation of “Hold” from the thirteen brokerages that are currently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $5.18.

A number of brokerages have recently issued reports on MQ. The Goldman Sachs Group reduced their price objective on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price objective on Marqeta from $4.00 to $4.50 and gave the stock a “market perform” rating in a report on Thursday, May 8th. UBS Group boosted their price objective on Marqeta from $4.75 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. upgraded Marqeta from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $5.00 to $6.00 in a report on Monday, May 19th. Finally, Barclays boosted their price objective on Marqeta from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th.

Institutional Investors Weigh In On Marqeta

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blueshift Asset Management LLC lifted its stake in Marqeta by 23.2% during the first quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company’s stock worth $51,000 after purchasing an additional 2,333 shares during the last quarter. California State Teachers Retirement System lifted its stake in Marqeta by 0.6% during the fourth quarter. California State Teachers Retirement System now owns 380,608 shares of the company’s stock worth $1,443,000 after purchasing an additional 2,343 shares during the last quarter. Arizona State Retirement System lifted its stake in Marqeta by 2.5% during the fourth quarter. Arizona State Retirement System now owns 116,397 shares of the company’s stock worth $441,000 after purchasing an additional 2,860 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Marqeta by 7.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 46,670 shares of the company’s stock worth $174,000 after purchasing an additional 3,155 shares during the last quarter. Finally, Xponance Inc. lifted its stake in Marqeta by 11.5% during the fourth quarter. Xponance Inc. now owns 34,314 shares of the company’s stock worth $130,000 after purchasing an additional 3,546 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

Marqeta Stock Down 0.5%

Shares of NASDAQ MQ opened at $5.47 on Friday. The business’s 50 day moving average price is $4.45 and its two-hundred day moving average price is $4.10. The company has a market cap of $2.56 billion, a PE ratio of 273.50 and a beta of 1.53. Marqeta has a twelve month low of $3.37 and a twelve month high of $6.00.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company had revenue of $139.07 million during the quarter, compared to analysts’ expectations of $135.66 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The business’s revenue was up 17.9% on a year-over-year basis. As a group, research analysts anticipate that Marqeta will post 0.06 EPS for the current fiscal year.

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.