Marqeta, Inc. (NASDAQ:MQ) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Marqeta, Inc. (NASDAQ:MQ) have been given a consensus recommendation of “Hold” by the sixteen research firms that are covering the firm, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.03.

Several analysts have commented on MQ shares. Wells Fargo & Company cut shares of Marqeta from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $7.00 to $5.00 in a research note on Tuesday, November 5th. Mizuho decreased their target price on Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. The Goldman Sachs Group cut their price target on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft cut Marqeta from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $9.00 to $4.00 in a report on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Tuesday, November 5th.

Marqeta Trading Up 3.5 %

NASDAQ:MQ opened at $3.86 on Wednesday. The stock has a 50-day moving average price of $4.09 and a 200 day moving average price of $4.81. The stock has a market capitalization of $1.94 billion, a P/E ratio of 193.00 and a beta of 1.54. Marqeta has a 12-month low of $3.37 and a 12-month high of $7.36.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.05 million. During the same period last year, the business earned ($0.07) earnings per share. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. On average, research analysts predict that Marqeta will post 0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marqeta

A number of institutional investors have recently added to or reduced their stakes in MQ. Congress Asset Management Co. raised its holdings in Marqeta by 46.8% in the 3rd quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock valued at $5,194,000 after buying an additional 336,349 shares during the period. Visa Foundation acquired a new stake in shares of Marqeta in the 2nd quarter valued at $68,197,000. Cerity Partners LLC purchased a new stake in Marqeta during the 3rd quarter worth about $1,466,000. Main Management ETF Advisors LLC acquired a new position in Marqeta in the third quarter valued at approximately $786,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of Marqeta by 671.7% in the 3rd quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock valued at $1,153,000 after buying an additional 204,026 shares in the last quarter. Institutional investors and hedge funds 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.