Brokerages Set Marqeta, Inc. (NASDAQ:MQ) Price Target at $7.37

Marqeta, Inc. (NASDAQ:MQ) has received an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $7.37.

MQ has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Friday, March 1st. Barclays lowered their target price on Marqeta from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Wedbush reiterated a “neutral” rating and issued a $6.00 price target on shares of Marqeta in a research note on Wednesday, May 8th. William Blair reissued an “outperform” rating on shares of Marqeta in a report on Wednesday, May 8th. Finally, Truist Financial restated a “buy” rating and set a $10.00 price target (up from $9.00) on shares of Marqeta in a report on Thursday, February 29th.

Marqeta Stock Down 1.5 %

Shares of NASDAQ:MQ opened at $5.09 on Friday. The stock has a market cap of $2.64 billion, a PE ratio of -14.14 and a beta of 1.78. The company’s fifty day moving average is $5.47 and its 200 day moving average is $5.99. Marqeta has a 52 week low of $4.62 and a 52 week high of $7.36.

Marqeta (NASDAQ:MQ) last posted its earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $117.90 million during the quarter, compared to analyst estimates of $117.05 million. Marqeta had a negative net margin of 32.98% and a negative return on equity of 11.84%. Marqeta’s revenue for the quarter was down 45.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) earnings per share. Sell-side analysts anticipate that Marqeta will post 0.01 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Marqeta by 3.6% during the first quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock valued at $282,717,000 after acquiring an additional 1,642,621 shares during the period. FMR LLC lifted its stake in Marqeta by 27.1% in the 3rd quarter. FMR LLC now owns 28,456,412 shares of the company’s stock worth $170,169,000 after purchasing an additional 6,058,777 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Marqeta by 27.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock valued at $44,216,000 after purchasing an additional 1,604,223 shares during the last quarter. Capital International Investors grew its position in shares of Marqeta by 203.1% during the first quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock valued at $40,998,000 after purchasing an additional 4,609,526 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Marqeta by 16.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,305,306 shares of the company’s stock worth $44,015,000 after purchasing an additional 900,675 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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.