Marqeta, Inc. (NASDAQ:MQ) Given Average Recommendation of “Buy” by Analysts

Shares of Marqeta, Inc. (NASDAQ:MQ) have been given a consensus recommendation of “Buy” by the twelve research firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $33.44.

A number of brokerages have commented on MQ. started coverage on shares of Marqeta in a research note on Tuesday, July 6th. They set a “buy” rating and a $36.00 price target for the company. Truist Securities began coverage on Marqeta in a research report on Wednesday, August 18th. They set a “buy” rating and a $37.00 price target on the stock. JPMorgan Chase & Co. began coverage on Marqeta in a research report on Tuesday, July 6th. They set an “overweight” rating and a $33.00 price target on the stock. Truist began coverage on Marqeta in a research report on Wednesday, August 18th. They set a “buy” rating and a $37.00 price target on the stock. Finally, started coverage on Marqeta in a research report on Tuesday, July 6th. They set a “buy” rating and a $36.00 price target on the stock.

Several large investors have recently added to or reduced their stakes in MQ. Artemis Investment Management LLP bought a new position in Marqeta in the second quarter worth $13,606,000. Liberty Street Advisors Inc. bought a new position in shares of Marqeta during the second quarter valued at $25,260,000. Teacher Retirement System of Texas bought a new position in shares of Marqeta during the second quarter valued at $281,000. Sei Investments Co. bought a new position in shares of Marqeta during the second quarter valued at $538,000. Finally, Full18 Capital LLC bought a new position in shares of Marqeta during the second quarter valued at $757,000. 19.55% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ MQ opened at $22.46 on Thursday. Marqeta has a 52-week low of $19.78 and a 52-week high of $32.75. The stock has a 50 day moving average price of $25.69.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Wednesday, August 11th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.21). The firm had revenue of $122.27 million for the quarter, compared to analysts’ expectations of $98.28 million. Equities research analysts forecast that Marqeta will post -0.88 earnings per share for the current fiscal year.

About Marqeta

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in the various verticals, including commerce disruptors, digital banks, tech giants, and large financial institutions.

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Analyst Recommendations for Marqeta (NASDAQ:MQ)

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