Marqeta (NASDAQ:MQ) Trading 4.2% Higher – Here’s What Happened

Marqeta, Inc. (NASDAQ:MQ) shares rose 4.2% during mid-day trading on Tuesday . The stock traded as high as $4.30 and last traded at $4.30. Approximately 1,069,566 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 5,550,180 shares. The stock had previously closed at $4.12.

Wall Street Analysts Forecast Growth

MQ has been the subject of several recent analyst reports. Barclays reissued an “equal weight” rating and set a $4.00 price objective (down from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. The Goldman Sachs Group reduced their price target on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wells Fargo & Company lowered their price objective on Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reduced their target price on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a report on Monday, January 6th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.29.

Marqeta Price Performance

The firm’s fifty day moving average price is $3.99 and its 200-day moving average price is $4.22. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 212.50 and a beta of 1.49.

Marqeta (NASDAQ:MQ) last posted its earnings results on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.05. The firm had revenue of $135.79 million during the quarter, compared to analysts’ expectations of $132.71 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. As a group, equities analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marqeta

Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new stake in Marqeta in the fourth quarter worth approximately $19,717,000. California State Teachers Retirement System lifted its holdings in shares of Marqeta by 0.6% in the fourth quarter. California State Teachers Retirement System now owns 380,608 shares of the company’s stock valued at $1,443,000 after buying an additional 2,343 shares during the period. Palogic Value Management L.P. lifted its holdings in shares of Marqeta by 45.5% in the fourth quarter. Palogic Value Management L.P. now owns 400,000 shares of the company’s stock valued at $1,516,000 after buying an additional 125,000 shares during the period. Cache Advisors LLC bought a new position in Marqeta during the fourth quarter valued at about $129,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Marqeta by 18.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 860,234 shares of the company’s stock worth $3,260,000 after acquiring an additional 133,188 shares during the period. Institutional investors and hedge funds own 78.64% of the company’s stock.

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.