Marqeta (NASDAQ:MQ) Price Target Increased to $8.00 by Analysts at Monness Crespi & Hardt

Marqeta (NASDAQ:MQ) had its target price increased by research analysts at Monness Crespi & Hardt from $7.50 to $8.00 in a research report issued on Wednesday, Briefing.com reports. The firm presently has a “buy” rating on the stock. Monness Crespi & Hardt’s target price would indicate a potential upside of 37.22% from the stock’s current price.

A number of other equities analysts have also weighed in on MQ. Truist Financial reissued a “buy” rating and set a $10.00 price objective (up previously from $9.00) on shares of Marqeta in a research note on Thursday, February 29th. Barclays boosted their price target on shares of Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Wells Fargo & Company raised their price objective on shares of Marqeta from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Bank of America upgraded shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Monday, February 12th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Marqeta from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $7.61.

Marqeta Stock Up 1.6 %

Shares of NASDAQ MQ opened at $5.83 on Wednesday. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of -13.88 and a beta of 1.81. Marqeta has a 52 week low of $4.07 and a 52 week high of $7.36. The firm has a 50-day simple moving average of $5.84 and a 200-day simple moving average of $6.06.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $117.90 million during the quarter, compared to the consensus estimate of $117.05 million. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. Marqeta’s quarterly revenue was down 45.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.13) EPS. As a group, equities research analysts expect that Marqeta will post -0.35 EPS for the current year.

Institutional Investors Weigh In On Marqeta

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in Marqeta by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,735,953 shares of the company’s stock worth $10,381,000 after buying an additional 19,532 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Marqeta by 23.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,551 shares of the company’s stock valued at $500,000 after acquiring an additional 15,865 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Marqeta by 13.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 208,127 shares of the company’s stock valued at $1,245,000 after purchasing an additional 25,000 shares during the period. Principal Financial Group Inc. grew its stake in Marqeta by 31.8% during the 3rd quarter. Principal Financial Group Inc. now owns 69,650 shares of the company’s stock worth $417,000 after purchasing an additional 16,814 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Marqeta by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 110,657 shares of the company’s stock worth $662,000 after purchasing an additional 1,957 shares during the period. Hedge funds and other institutional investors 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.