Marqeta (NASDAQ:MQ) Shares Up 3.7% – Should You Buy?

Marqeta, Inc. (NASDAQ:MQ)’s stock price rose 3.7% on Thursday . The stock traded as high as $5.14 and last traded at $5.11. Approximately 1,303,504 shares changed hands during trading, a decline of 72% from the average daily volume of 4,585,501 shares. The stock had previously closed at $4.93.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MQ. JPMorgan Chase & Co. dropped their price target on shares of Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $5.50 price target on shares of Marqeta in a research note on Monday, June 24th. Wells Fargo & Company raised shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price target on the stock in a research note on Tuesday, June 25th. Keefe, Bruyette & Woods dropped their price target on shares of Marqeta from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Monday, July 8th. Finally, UBS Group dropped their price target on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.11.

Marqeta Trading Up 1.0 %

The business’s fifty day moving average is $5.10 and its 200 day moving average is $5.35. The firm has a market capitalization of $2.61 billion, a P/E ratio of -13.97 and a beta of 1.77.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $125.30 million for the quarter, compared to analyst estimates of $121.87 million. Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The firm’s revenue was down 45.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.07) earnings per share. As a group, sell-side analysts predict that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Marqeta

Several large investors have recently added to or reduced their stakes in MQ. Covestor Ltd boosted its holdings in shares of Marqeta by 17,340.0% during the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock worth $26,000 after buying an additional 4,335 shares during the period. J.Safra Asset Management Corp raised its stake in shares of Marqeta by 633.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after buying an additional 5,300 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Marqeta by 7,852.8% in the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after buying an additional 9,973 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of Marqeta in the 2nd quarter valued at $61,000. Finally, Empowered Funds LLC acquired a new position in shares of Marqeta in the 1st quarter valued at $65,000. 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.