Marqeta, Inc. (NASDAQ:MQ) Receives $7.13 Consensus PT from Analysts

Shares of Marqeta, Inc. (NASDAQ:MQ) have earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $7.13.

Several equities analysts have recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Marqeta in a research report on Wednesday, May 8th. Barclays reduced their price target on shares of Marqeta from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $5.50 price target on shares of Marqeta in a research report on Monday, June 24th. Wells Fargo & Company raised shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price target on the stock in a research report on Tuesday, June 25th. Finally, Monness Crespi & Hardt raised their target price on shares of Marqeta from $7.50 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th.

Marqeta Price Performance

Shares of Marqeta stock opened at $5.37 on Wednesday. The business has a 50-day moving average of $5.43 and a 200-day moving average of $5.84. The company has a market capitalization of $2.78 billion, a PE ratio of -14.92 and a beta of 1.78. Marqeta has a 1-year low of $4.86 and a 1-year high of $7.36.

Marqeta (NASDAQ:MQ) last announced its earnings results 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. Marqeta had a negative return on equity of 11.84% and a negative net margin of 32.98%. The company had revenue of $117.90 million during the quarter, compared to the consensus estimate of $117.05 million. During the same period last year, the firm earned ($0.13) earnings per share. The company’s revenue was down 45.8% on a year-over-year basis. On average, equities analysts expect that Marqeta will post 0.01 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Avior Wealth Management LLC increased its stake in shares of Marqeta by 8.8% during the fourth quarter. Avior Wealth Management LLC now owns 21,253 shares of the company’s stock valued at $148,000 after acquiring an additional 1,719 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Marqeta by 20.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 19,144 shares of the company’s stock valued at $114,000 after acquiring an additional 3,310 shares during the period. Renaissance Capital LLC grew its position in Marqeta by 1.2% in the first quarter. Renaissance Capital LLC now owns 307,662 shares of the company’s stock worth $1,834,000 after buying an additional 3,523 shares during the last quarter. Aigen Investment Management LP grew its position in Marqeta by 13.9% in the fourth quarter. Aigen Investment Management LP now owns 31,999 shares of the company’s stock worth $223,000 after buying an additional 3,904 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Marqeta by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock worth $281,000 after buying an additional 3,979 shares during 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.