Marqeta (NASDAQ:MQ) Given New $7.00 Price Target at Susquehanna

by · The Cerbat Gem

Marqeta (NASDAQ:MQ – Free Report) had its price objective cut by Susquehanna from $9.00 to $7.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a positive rating on the stock.

MQ has been the topic of a number of other reports. Wells Fargo & Company lowered Marqeta from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $7.00 to $5.00 in a research note on Tuesday. Morgan Stanley dropped their target price on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday. Keefe, Bruyette & Woods decreased their price target on shares of Marqeta from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft cut shares of Marqeta from a “buy” rating to a “hold” rating and dropped their price objective for the company from $9.00 to $4.00 in a research note on Tuesday. Finally, Monness Crespi & Hardt lowered shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 target price on the stock. in a research note on Tuesday. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.33.

Read Our Latest Research Report on MQ

Marqeta Stock Performance

Marqeta stock opened at $3.42 on Tuesday. The stock has a market capitalization of $1.74 billion, a P/E ratio of -170.91 and a beta of 1.73. The company’s fifty day moving average price is $5.14 and its 200 day moving average price is $5.30. Marqeta has a 1 year low of $3.37 and a 1 year high of $7.36.

Marqeta (NASDAQ:MQ – Get Free Report) last released its earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.05 million. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) EPS. Sell-side analysts predict that Marqeta will post 0.06 EPS for the current year.

Institutional Investors Weigh In On Marqeta

A number of institutional investors and hedge funds have recently made changes to their positions in MQ. Covestor Ltd increased its holdings in Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock valued at $26,000 after purchasing an additional 4,335 shares during the last quarter. J.Safra Asset Management Corp boosted its position in shares of Marqeta by 633.2% during the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after buying an additional 5,300 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Marqeta by 7,852.8% in the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after buying an additional 9,973 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Marqeta in the 2nd quarter valued at $61,000. Finally, Empowered Funds LLC acquired a new position in Marqeta during the 1st quarter worth about $65,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

About Marqeta

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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.

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