Marqeta (NASDAQ:MQ) Stock Rating Reaffirmed by The Goldman Sachs Group

The Goldman Sachs Group reiterated their neutral rating on shares of Marqeta (NASDAQ:MQ) in a research note published on Monday morning, Marketbeat.com reports. The firm currently has a $5.50 target price on the stock.

MQ has been the subject of several other reports. Truist Financial reissued a buy rating and issued a $10.00 target price (up from $9.00) on shares of Marqeta in a research report on Thursday, February 29th. Mizuho decreased their target price on shares of Marqeta from $8.00 to $7.00 and set a buy rating for the company in a research report on Tuesday, May 21st. William Blair reissued an outperform rating on shares of Marqeta in a research report on Wednesday, May 8th. Keefe, Bruyette & Woods boosted their target price on shares of Marqeta from $7.00 to $8.00 and gave the stock a market perform rating in a research report on Friday, March 1st. Finally, Barclays decreased their target price on shares of Marqeta from $8.00 to $7.00 and set an overweight rating for the company in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Marqeta currently has a consensus rating of Moderate Buy and an average target price of $7.25.

Marqeta Stock Performance

Marqeta stock opened at $5.39 on Monday. The firm has a market cap of $2.79 billion, a PE ratio of -14.97 and a beta of 1.78. The firm’s 50 day moving average price is $5.43 and its two-hundred day moving average price is $5.94. Marqeta has a twelve month low of $4.62 and a twelve month high of $7.36.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The firm had revenue of $117.90 million for the quarter, compared to analyst estimates of $117.05 million. Marqeta had a negative net margin of 32.98% and a negative return on equity of 11.84%. The company’s revenue for the quarter was down 45.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.13) EPS. Equities analysts anticipate that Marqeta will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling at Marqeta

In other news, Director Martha Cummings sold 40,241 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $5.47, for a total value of $220,118.27. Following the completion of the transaction, the director now owns 19,000 shares in the company, valued at approximately $103,930. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 12.12% of the company’s stock.

Hedge Funds Weigh In On Marqeta

A number of hedge funds have recently made changes to their positions in MQ. Rhumbline Advisers raised its stake in shares of Marqeta by 1.3% in the 3rd quarter. Rhumbline Advisers now owns 762,251 shares of the company’s stock valued at $4,558,000 after buying an additional 9,670 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Marqeta by 910.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 25,171 shares of the company’s stock worth $151,000 after purchasing an additional 22,680 shares in the last quarter. Aigen Investment Management LP increased its position in shares of 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 in the last quarter. Mariner LLC increased its position in shares of Marqeta by 3.9% during the 3rd quarter. Mariner LLC now owns 91,696 shares of the company’s stock worth $548,000 after purchasing an additional 3,461 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Marqeta by 0.6% during the 3rd quarter. Northern Trust Corp now owns 4,370,399 shares of the company’s stock worth $26,135,000 after purchasing an additional 25,920 shares in the last quarter. Institutional investors and hedge funds 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.