Brokerages Set Marqeta, Inc. (NASDAQ:MQ) Target Price at $5.14

Marqeta, Inc. (NASDAQ:MQ) has received an average recommendation of “Reduce” from the twelve analysts that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $5.1389.

A number of brokerages recently commented on MQ. UBS Group cut their target price on Marqeta from $5.00 to $4.25 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Mizuho reissued a “neutral” rating and issued a $4.50 price target (down from $8.00) on shares of Marqeta in a report on Thursday, January 8th. Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a research note on Friday. JPMorgan Chase & Co. initiated coverage on shares of Marqeta in a report on Tuesday, February 17th. They set an “overweight” rating and a $6.00 price objective for the company. Finally, Morgan Stanley decreased their target price on shares of Marqeta from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 25th.

Marqeta Stock Up 1.2%

MQ stock opened at $4.08 on Friday. Marqeta has a twelve month low of $3.47 and a twelve month high of $7.04. The company has a market cap of $1.74 billion, a PE ratio of -136.00 and a beta of 1.48. The business’s 50-day simple moving average is $4.10 and its 200 day simple moving average is $4.61.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.00 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.01. Marqeta had a negative return on equity of 1.62% and a negative net margin of 2.23%.The company had revenue of $172.11 million during the quarter, compared to the consensus estimate of $167.05 million. During the same quarter last year, the company earned ($0.05) EPS. The company’s quarterly revenue was up 26.7% on a year-over-year basis. On average, equities research analysts anticipate that Marqeta will post 0.06 EPS for the current year.

Insiders Place Their Bets

In related news, Director Judson C. Linville acquired 25,570 shares of the stock in a transaction dated Friday, February 27th. The shares were bought at an average cost of $3.93 per share, for a total transaction of $100,490.10. Following the purchase, the director owned 104,220 shares in the company, valued at approximately $409,584.60. This trade represents a 32.51% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 12.61% of the company’s stock.

Institutional Trading of Marqeta

Large investors have recently bought and sold shares of the stock. Certuity LLC lifted its holdings in shares of Marqeta by 22.3% during the third quarter. Certuity LLC now owns 14,235 shares of the company’s stock valued at $75,000 after acquiring an additional 2,596 shares during the period. Mariner LLC grew its holdings in shares of Marqeta by 4.2% in the 4th quarter. Mariner LLC now owns 66,765 shares of the company’s stock worth $317,000 after purchasing an additional 2,670 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Marqeta by 2.7% during the 3rd quarter. Victory Capital Management Inc. now owns 101,567 shares of the company’s stock worth $536,000 after purchasing an additional 2,711 shares in the last quarter. CWM LLC increased its position in shares of Marqeta by 82.2% during the 4th quarter. CWM LLC now owns 6,254 shares of the company’s stock worth $30,000 after purchasing an additional 2,821 shares in the last quarter. Finally, Jasper Ridge Partners L.P. lifted its holdings in Marqeta by 3.1% during the 2nd quarter. Jasper Ridge Partners L.P. now owns 95,244 shares of the company’s stock valued at $555,000 after purchasing an additional 2,839 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

Marqeta Company Profile

Marqeta is a modern card issuing and payment processing platform that enables businesses to design, launch and manage customized payment cards. The company offers a fully programmable open API that allows clients to create virtual, physical and tokenized payment cards with real-time transaction controls and dynamic spend limits. By leveraging Marqeta’s infrastructure, companies can streamline their payment operations, reduce time to market and deliver tailored payment experiences to end consumers.

Founded in 2010 and headquartered in Oakland, California, Marqeta was established by CEO Jason Gardner with the goal of transforming traditional card issuance through cloud-native technology.