Marqeta (NASDAQ:MQ) Given “Neutral” Rating at Wedbush

Wedbush reissued their neutral rating on shares of Marqeta (NASDAQ:MQ) in a research note released on Wednesday morning, Benzinga reports. Wedbush currently has a $6.00 price target on the stock.

A number of other research analysts also recently issued reports on the company. William Blair reissued an outperform rating on shares of Marqeta in a research note on Wednesday. Truist Financial reaffirmed a buy rating and issued a $10.00 target price (up from $9.00) on shares of Marqeta in a report on Thursday, February 29th. Keefe, Bruyette & Woods upped their price objective on Marqeta from $7.00 to $8.00 and gave the company a market perform rating in a research note on Friday, March 1st. Monness Crespi & Hardt upped their price objective on Marqeta from $7.50 to $8.00 and gave the company a buy rating in a research note on Wednesday. Finally, Barclays increased their target price on Marqeta from $7.00 to $8.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Marqeta presently has a consensus rating of Moderate Buy and a consensus price target of $7.43.

Marqeta Stock Up 1.0 %

Shares of MQ traded up $0.06 during midday trading on Wednesday, hitting $5.90. The company’s stock had a trading volume of 6,816,938 shares, compared to its average volume of 5,139,853. Marqeta has a one year low of $4.07 and a one year high of $7.36. The company’s fifty day simple moving average is $5.81 and its two-hundred day simple moving average is $6.06. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -13.52 and a beta of 1.81.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $117.90 million for the quarter, compared to analyst estimates of $117.05 million. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. Marqeta’s quarterly revenue was down 45.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.13) EPS. On average, research analysts predict that Marqeta will post -0.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. ProShare Advisors LLC lifted its stake in Marqeta by 6.6% in the 1st quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock worth $505,000 after purchasing an additional 5,257 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Marqeta by 7,852.8% in the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after purchasing an additional 9,973 shares in the last quarter. Swiss National Bank lifted its stake in Marqeta by 4.6% in the 1st quarter. Swiss National Bank now owns 784,700 shares of the company’s stock worth $4,677,000 after purchasing an additional 34,300 shares in the last quarter. Empowered Funds LLC purchased a new stake in Marqeta in the 1st quarter worth $65,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Marqeta by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock worth $281,000 after purchasing an additional 3,979 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.