Marqeta, Inc. (NASDAQ:MQ) Receives $7.13 Average Price Target from Analysts

Marqeta, Inc. (NASDAQ:MQ) has received an average recommendation of “Moderate Buy” from the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $7.13.

Several research analysts have recently issued reports on the company. Wedbush restated a “neutral” rating and issued a $6.00 price objective on shares of Marqeta in a research note on Wednesday, May 8th. Keefe, Bruyette & Woods cut their price objective on Marqeta from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Monday, July 8th. William Blair reaffirmed an “outperform” rating on shares of Marqeta in a research note on Wednesday, May 8th. Barclays lowered their price objective on Marqeta from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Finally, Mizuho lowered their price objective on Marqeta from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st.

Insider Buying and Selling

In other Marqeta news, Director Martha Cummings sold 40,241 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $5.47, for a total value of $220,118.27. Following the sale, the director now owns 19,000 shares of the company’s stock, valued at approximately $103,930. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 12.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marqeta

Several hedge funds and other institutional investors have recently made changes to their positions in the business. O Shaughnessy Asset Management LLC grew its stake in Marqeta by 20.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 19,144 shares of the company’s stock worth $114,000 after buying an additional 3,310 shares during the last quarter. Renaissance Capital LLC lifted its holdings in shares of Marqeta by 24.0% in the 4th quarter. Renaissance Capital LLC now owns 304,139 shares of the company’s stock valued at $2,123,000 after buying an additional 58,796 shares during the period. Handelsinvest Investeringsforvaltning acquired a new position in Marqeta during the fourth quarter worth $233,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in Marqeta during the fourth quarter worth $223,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Marqeta by 6.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 220,625 shares of the company’s stock worth $1,540,000 after purchasing an additional 12,498 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Trading Up 1.6 %

Shares of MQ stock opened at $5.55 on Wednesday. Marqeta has a twelve month low of $4.86 and a twelve month high of $7.36. The stock has a fifty day simple moving average of $5.42 and a two-hundred day simple moving average of $5.82.

Marqeta (NASDAQ:MQ) last announced its earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. Marqeta had a negative return on equity of 11.84% and a negative net margin of 32.98%. The company had revenue of $117.90 million for the quarter, compared to analyst estimates of $117.05 million. During the same period in the prior year, the company posted ($0.13) EPS. The firm’s quarterly revenue was down 45.8% compared to the same quarter last year. Equities research analysts predict that Marqeta will post 0.01 earnings per share for the current fiscal year.

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.