Marqeta, Inc. (NASDAQ:MQ) Receives $5.14 Average PT from Analysts
by Jessica Moore · The Cerbat GemShares of Marqeta, Inc. (NASDAQ:MQ – Get Free Report) have been assigned an average recommendation of “Reduce” from the twelve research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $5.1389.
MQ has been the subject of a number of analyst reports. JPMorgan Chase & Co. began coverage on shares of Marqeta in a research note on Tuesday, February 17th. They set an “overweight” rating and a $6.00 target price for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a research note on Friday, March 27th. Wolfe Research lowered Marqeta from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th. Keefe, Bruyette & Woods lowered their target price on Marqeta from $6.00 to $5.50 and set a “market perform” rating for the company in a report on Friday, January 2nd. Finally, Mizuho reissued a “neutral” rating and issued a $4.50 price target (down from $8.00) on shares of Marqeta in a research note on Thursday, January 8th.
Read Our Latest Analysis on MQ
Insiders Place Their Bets
In related news, Director Judson C. Linville acquired 25,570 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were bought at an average price of $3.93 per share, with a total value of $100,490.10. Following the transaction, the director directly owned 104,220 shares of the company’s stock, valued at $409,584.60. This trade represents a 32.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Elaine Paul sold 17,452 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $4.47, for a total value of $78,010.44. Following the completion of the sale, the director owned 17,453 shares of the company’s stock, valued at approximately $78,014.91. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.61% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in MQ. Nordea Investment Management AB lifted its holdings in shares of Marqeta by 193.0% in the 3rd quarter. Nordea Investment Management AB now owns 2,360,309 shares of the company’s stock worth $12,510,000 after purchasing an additional 1,554,741 shares in the last quarter. Principal Financial Group Inc. increased its stake in Marqeta by 2,582.3% during the 3rd quarter. Principal Financial Group Inc. now owns 719,166 shares of the company’s stock valued at $3,797,000 after purchasing an additional 692,354 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in Marqeta by 1,078.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,405,491 shares of the company’s stock valued at $7,421,000 after purchasing an additional 1,286,258 shares in the last quarter. Abbington Investment Group bought a new position in shares of Marqeta in the fourth quarter valued at $1,939,000. Finally, SG Americas Securities LLC grew its holdings in shares of Marqeta by 603.5% during the fourth quarter. SG Americas Securities LLC now owns 1,095,787 shares of the company’s stock valued at $5,205,000 after buying an additional 940,022 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.
Marqeta Price Performance
Marqeta stock opened at $4.29 on Tuesday. The stock’s 50 day moving average is $4.07 and its 200 day moving average is $4.46. Marqeta has a one year low of $3.70 and a one year high of $7.04. The firm has a market cap of $1.83 billion, a P/E ratio of -143.00 and a beta of 1.39.
Marqeta (NASDAQ:MQ – Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $0.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.01. Marqeta had a negative net margin of 2.23% and a negative return on equity of 1.62%. The business had revenue of $172.11 million during the quarter, compared to the consensus estimate of $167.05 million. During the same quarter in the prior year, the firm posted ($0.05) EPS. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. Equities analysts anticipate that Marqeta will post 0.01 earnings per share for the current fiscal year.
Marqeta Company Profile
Marqeta is a modern card issuing and payment processing platform that enables businesses to design, launch and manage customized payment cards. The company offers a fully programmable open API that allows clients to create virtual, physical and tokenized payment cards with real-time transaction controls and dynamic spend limits. By leveraging Marqeta’s infrastructure, companies can streamline their payment operations, reduce time to market and deliver tailored payment experiences to end consumers.
Founded in 2010 and headquartered in Oakland, California, Marqeta was established by CEO Jason Gardner with the goal of transforming traditional card issuance through cloud-native technology.