Marqeta (NASDAQ:MQ) Stock Price Down 10% – What’s Next?

Shares of Marqeta, Inc. (NASDAQ:MQ) were down 10% during mid-day trading on Wednesday . The company traded as low as $3.90 and last traded at $4.0330. Approximately 865,255 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 3,645,100 shares. The stock had previously closed at $4.48.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MQ shares. Mizuho restated a “neutral” rating and issued a $4.50 target price (down from $8.00) on shares of Marqeta in a research note on Thursday, January 8th. JPMorgan Chase & Co. started coverage on Marqeta in a research note on Tuesday, February 17th. They issued an “overweight” rating and a $6.00 target price for the company. Morgan Stanley reduced their target price on Marqeta from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. UBS Group raised their target price on Marqeta from $4.25 to $4.75 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Wolfe Research lowered Marqeta from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $5.19.

Marqeta Trading Down 0.5%

The firm has a 50-day simple moving average of $4.11 and a two-hundred day simple moving average of $4.42. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 417.42 and a beta of 1.35.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.02 earnings per share for the quarter. The company had revenue of $165.80 million for the quarter, compared to the consensus estimate of $164.30 million. Marqeta had a return on equity of 0.27% and a net margin of 0.33%.The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.02) EPS. Equities research analysts anticipate that Marqeta, Inc. will post 0.01 EPS for the current year.

Insider Activity

In other Marqeta news, Director Elaine Paul sold 17,452 shares of the stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $4.47, for a total transaction of $78,010.44. Following the sale, the director directly owned 17,453 shares of the company’s stock, valued at approximately $78,014.91. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Judson C. Linville purchased 25,570 shares of the business’s stock in a transaction on 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 completion of the transaction, the director directly owned 104,220 shares in the company, valued at $409,584.60. This trade represents a 32.51% increase in their position. The disclosure for this purchase is available in the SEC filing. 12.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marqeta

A number of institutional investors have recently modified their holdings of MQ. AQR Capital Management LLC acquired a new stake in shares of Marqeta during the 1st quarter valued at about $57,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Marqeta by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 279,103 shares of the company’s stock valued at $1,150,000 after acquiring an additional 9,319 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Marqeta by 7.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,547 shares of the company’s stock valued at $3,813,000 after acquiring an additional 65,313 shares during the period. Intech Investment Management LLC grew its position in shares of Marqeta by 22.1% during the 1st quarter. Intech Investment Management LLC now owns 288,114 shares of the company’s stock valued at $1,187,000 after acquiring an additional 52,219 shares during the period. Finally, Invesco Ltd. grew its position in shares of Marqeta by 8.1% during the 2nd quarter. Invesco Ltd. now owns 6,268,848 shares of the company’s stock valued at $36,547,000 after acquiring an additional 471,631 shares during the period. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.