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

Shares of Marqeta, Inc. (NASDAQ:MQ) have been given a consensus rating of “Hold” by the sixteen analysts that are covering the firm, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $6.27.

Several research analysts have recently commented on the company. KeyCorp cut Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods decreased their price target on Marqeta from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Tuesday, November 5th. UBS Group decreased their price target on Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Susquehanna cut their price objective on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. Finally, William Blair lowered Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th.

Marqeta Price Performance

NASDAQ MQ opened at $3.90 on Tuesday. The stock has a market capitalization of $1.96 billion, a PE ratio of 195.00 and a beta of 1.73. The business has a 50 day simple moving average of $4.89 and a two-hundred day simple moving average of $5.19. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.36.

Marqeta (NASDAQ:MQ) last posted 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 business had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.05 million. During the same quarter in the previous year, the firm earned ($0.07) EPS. Marqeta’s revenue was up 20.8% compared to the same quarter last year. On average, analysts anticipate that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Congress Asset Management Co. grew its stake in shares of Marqeta by 46.8% during the third quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock valued at $5,194,000 after acquiring an additional 336,349 shares in the last quarter. Visa Foundation acquired a new position in Marqeta in the second quarter worth about $68,197,000. Vanguard Group Inc. grew its stake in Marqeta by 3.6% in the first quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock worth $282,717,000 after purchasing an additional 1,642,621 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in Marqeta by 27.6% in the first quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock worth $44,216,000 after purchasing an additional 1,604,223 shares in the last quarter. Finally, Comerica Bank grew its stake in Marqeta by 27.8% in the first quarter. Comerica Bank now owns 1,007,954 shares of the company’s stock worth $6,007,000 after purchasing an additional 219,001 shares in the last quarter. Hedge funds and other institutional investors 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.