Marqeta (NASDAQ:MQ) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Marqeta (NASDAQ:MQ) had its target price boosted by equities research analysts at Deutsche Bank Aktiengesellschaft from $4.50 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 5.60% from the stock’s previous close.

Several other brokerages have also commented on MQ. UBS Group boosted their target price on shares of Marqeta from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $20.12.

Marqeta Price Performance

Shares of MQ stock traded up $0.43 during trading hours on Thursday, reaching $17.05. 143,406 shares of the company’s stock were exchanged, compared to its average volume of 1,008,282. The company has a market cap of $7.23 billion, a P/E ratio of 1,701.80 and a beta of 1.31. The company’s 50 day moving average is $16.15 and its two-hundred day moving average is $16.84. Marqeta has a 1 year low of $14.80 and a 1 year high of $28.16.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. Marqeta had a return on equity of 0.27% and a net margin of 0.33%.The business had revenue of $165.80 million during the quarter, compared to analysts’ expectations of $164.30 million. During the same period last year, the firm earned ($0.08) EPS. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. As a group, analysts predict that Marqeta will post 0.04 EPS for the current fiscal year.

Insider Activity

In related news, Director Elaine Paul sold 4,537 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $15.20, for a total value of $68,962.40. Following the sale, the director owned 8,900 shares of the company’s stock, valued at approximately $135,280. This represents a 33.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marqeta

A number of institutional investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL raised its stake in Marqeta by 1,078.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,405,491 shares of the company’s stock valued at $7,421,000 after purchasing an additional 1,286,258 shares during the last quarter. Abbington Investment Group purchased a new stake in shares of Marqeta during the fourth quarter worth about $1,939,000. SG Americas Securities LLC grew its holdings in shares of Marqeta by 603.5% during the fourth quarter. SG Americas Securities LLC now owns 1,095,787 shares of the company’s stock worth $5,205,000 after buying an additional 940,022 shares in the last quarter. Donor Advised Charitable Giving Inc. acquired a new position in shares of Marqeta in the fourth quarter valued at approximately $1,257,000. Finally, JPMorgan Chase & Co. raised its position in shares of Marqeta by 271.5% in the third quarter. JPMorgan Chase & Co. now owns 1,335,320 shares of the company’s stock valued at $7,050,000 after buying an additional 975,861 shares during the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

About Marqeta

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.