Analysts Set Marqeta, Inc. (NASDAQ:MQ) Target Price at $7.11

by · The Markets Daily

Marqeta, Inc. (NASDAQ:MQ – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $7.11.

MQ has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their price target on Marqeta from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Monday, July 8th. UBS Group reduced their price target on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company upgraded Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price target on the stock in a report on Tuesday, June 25th. JPMorgan Chase & Co. reduced their price target on Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Susquehanna restated a “positive” rating and set a $9.00 price target on shares of Marqeta in a report on Tuesday, August 6th.

Read Our Latest Stock Analysis on MQ

Marqeta Trading Down 1.3 %

MQ opened at $5.12 on Friday. The company has a market cap of $2.65 billion, a P/E ratio of -14.22 and a beta of 1.77. The business’s 50-day moving average price is $5.11 and its 200-day moving average price is $5.31. Marqeta has a 12 month low of $4.40 and a 12 month high of $7.36.

Marqeta (NASDAQ:MQ – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The firm had revenue of $125.30 million for the quarter, compared to the consensus estimate of $121.87 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share. The company’s quarterly revenue was down 45.8% on a year-over-year basis. Equities research analysts forecast that Marqeta will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Marqeta

A number of hedge funds have recently made changes to their positions in MQ. Vanguard Personalized Indexing Management LLC lifted its position in Marqeta by 8.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock valued at $246,000 after acquiring an additional 3,548 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Marqeta by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock valued at $281,000 after acquiring an additional 3,979 shares in the last quarter. Covestor Ltd lifted its position 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 acquiring an additional 4,335 shares in the last quarter. ProShare Advisors LLC lifted its position in Marqeta by 6.6% in the 1st quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock valued at $505,000 after acquiring an additional 5,257 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted its position in Marqeta by 633.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after acquiring an additional 5,300 shares in the last quarter. 78.64% of the stock is owned by institutional investors.

Marqeta Company Profile

(Get Free Report

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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