Brokerages Set Marqeta, Inc. (NASDAQ:MQ) Price Target at $6.27

Marqeta, Inc. (NASDAQ:MQ) has earned a consensus rating of “Hold” from the sixteen brokerages that are presently covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $6.27.

MQ has been the subject of a number of recent analyst reports. Monness Crespi & Hardt downgraded Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a research note on Tuesday, November 5th. The Goldman Sachs Group reduced their price objective on shares of Marqeta from $5.50 to $4.50 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. William Blair cut Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered shares of Marqeta from a “buy” rating to a “hold” rating and cut their target price for the stock from $9.00 to $4.00 in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company cut shares of Marqeta from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $7.00 to $5.00 in a research report on Tuesday, November 5th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MQ. Vanguard Group Inc. increased its holdings in shares of Marqeta by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock valued at $282,717,000 after acquiring an additional 1,642,621 shares during the period. Visa Foundation acquired a new stake in shares of Marqeta during the 2nd quarter worth about $68,197,000. Westfield Capital Management Co. LP lifted its holdings in shares of Marqeta by 4.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 8,333,453 shares of the company’s stock worth $41,001,000 after acquiring an additional 319,661 shares during the period. Dimensional Fund Advisors LP raised its holdings in Marqeta by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock valued at $40,759,000 after buying an additional 389,045 shares during the period. Finally, Alkeon Capital Management LLC raised its holdings in Marqeta by 31.3% in the third quarter. Alkeon Capital Management LLC now owns 7,420,663 shares of the company’s stock valued at $36,510,000 after buying an additional 1,767,845 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Stock Performance

Shares of NASDAQ MQ opened at $3.96 on Tuesday. Marqeta has a 52 week low of $3.37 and a 52 week high of $7.36. The stock has a 50 day moving average price of $4.93 and a 200 day moving average price of $5.22. The stock has a market capitalization of $2.01 billion, a PE ratio of 198.00 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The firm had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. During the same period in the prior year, the company earned ($0.07) EPS. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, research analysts forecast that Marqeta will post 0.06 EPS for the current year.

Marqeta Company Profile

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.