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

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

Several research firms recently commented on MQ. Susquehanna reaffirmed a “positive” rating and set a $9.00 target price on shares of Marqeta in a report on Tuesday, August 6th. Keefe, Bruyette & Woods decreased their target price on Marqeta from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Monday, July 8th. UBS Group reduced their price objective on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. reduced their price objective on Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th.

Marqeta Trading Up 1.7 %

MQ opened at $5.27 on Friday. Marqeta has a 12-month low of $4.40 and a 12-month high of $7.36. The business’s fifty day simple moving average is $5.11 and its 200-day simple moving average is $5.30. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -14.64 and a beta of 1.77.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $121.87 million. During the same period in the prior year, the business posted ($0.07) EPS. The firm’s quarterly revenue was down 45.8% on a year-over-year basis. On average, equities research analysts predict that Marqeta will post 0.06 EPS for the current year.

Institutional Trading of Marqeta

Several hedge funds and other institutional investors have recently bought and sold shares of MQ. Vanguard Group Inc. lifted its position in Marqeta by 3.6% in the first quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock worth $282,717,000 after purchasing an additional 1,642,621 shares during the period. Visa Foundation acquired a new position in Marqeta during the 2nd quarter worth $68,197,000. Dimensional Fund Advisors LP lifted its position in Marqeta by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock worth $40,759,000 after acquiring an additional 389,045 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Marqeta by 27.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock worth $44,216,000 after purchasing an additional 1,604,223 shares during the period. Finally, Capital International Investors increased its holdings in shares of Marqeta by 203.1% during the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock worth $40,998,000 after purchasing an additional 4,609,526 shares during the period. 78.64% of the stock is owned by institutional investors.

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.