Marqeta’s (MQ) Outperform Rating Reaffirmed at William Blair

William Blair reissued their outperform rating on shares of Marqeta (NASDAQ:MQ) in a report issued on Wednesday morning, RTT News reports.

Other equities research analysts also recently issued reports about the stock. Barclays boosted their price target on shares of Marqeta from $7.00 to $8.00 and gave the company an overweight rating in a research note on Tuesday, January 16th. Truist Financial reiterated a buy rating and issued a $10.00 price objective (up previously from $9.00) on shares of Marqeta in a report on Thursday, February 29th. Monness Crespi & Hardt lifted their target price on Marqeta from $7.50 to $8.00 and gave the company a buy rating in a research report on Wednesday. Wells Fargo & Company increased their price target on shares of Marqeta from $6.00 to $7.00 and gave the stock an equal weight rating in a research report on Tuesday, February 6th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Marqeta from $7.00 to $8.00 and gave the company a market perform rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Marqeta currently has a consensus rating of Moderate Buy and a consensus target price of $7.50.

Marqeta Stock Up 0.2 %

NASDAQ MQ opened at $5.84 on Wednesday. The business’s fifty day simple moving average is $5.81 and its 200-day simple moving average is $6.06. The firm has a market cap of $3.00 billion, a PE ratio of -13.90 and a beta of 1.81. Marqeta has a 52 week low of $4.07 and a 52 week high of $7.36.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $117.90 million during the quarter, compared to the consensus estimate of $117.05 million. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The business’s revenue was down 45.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.13) EPS. Research analysts expect that Marqeta will post -0.35 EPS for the current year.

Hedge Funds Weigh In On Marqeta

Several hedge funds have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC lifted its stake in Marqeta by 8.8% in the fourth quarter. Avior Wealth Management LLC now owns 21,253 shares of the company’s stock valued at $148,000 after buying an additional 1,719 shares during the last quarter. Aigen Investment Management LP boosted its stake in Marqeta by 6.7% during the 3rd quarter. Aigen Investment Management LP now owns 28,095 shares of the company’s stock worth $168,000 after purchasing an additional 1,763 shares during the period. Arizona State Retirement System grew its position in Marqeta by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 110,657 shares of the company’s stock worth $662,000 after purchasing an additional 1,957 shares during the last quarter. Amalgamated Bank grew its position in Marqeta by 4.9% during the 3rd quarter. Amalgamated Bank now owns 51,433 shares of the company’s stock worth $308,000 after purchasing an additional 2,395 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in Marqeta by 20.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 19,144 shares of the company’s stock valued at $114,000 after purchasing an additional 3,310 shares during the period. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Marqeta Company Profile

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.