Marqeta (NASDAQ:MQ) Price Target Raised to $4.50

Marqeta (NASDAQ:MQ) had its target price boosted by Keefe, Bruyette & Woods from $4.00 to $4.50 in a report published on Thursday,Benzinga reports. They currently have a market perform rating on the stock.

Several other analysts also recently weighed in on the company. Wells Fargo & Company cut their target price on Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. The Goldman Sachs Group cut their price objective on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.00.

Marqeta Trading Up 2.4 %

Shares of MQ stock opened at $4.60 on Thursday. The company’s fifty day simple moving average is $4.07 and its 200-day simple moving average is $4.01. Marqeta has a 52 week low of $3.37 and a 52 week high of $6.01. The company has a market cap of $2.32 billion, a PE ratio of 230.00 and a beta of 1.41.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $139.07 million during the quarter, compared to analysts’ expectations of $135.66 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) EPS. Equities research analysts expect that Marqeta will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Blueshift Asset Management LLC grew its stake in Marqeta by 23.2% during the 1st quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company’s stock valued at $51,000 after acquiring an additional 2,333 shares in the last quarter. California State Teachers Retirement System grew its position in Marqeta by 0.6% during the fourth quarter. California State Teachers Retirement System now owns 380,608 shares of the company’s stock valued at $1,443,000 after purchasing an additional 2,343 shares in the last quarter. Arizona State Retirement System grew its position in Marqeta by 2.5% during the fourth quarter. Arizona State Retirement System now owns 116,397 shares of the company’s stock valued at $441,000 after purchasing an additional 2,860 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Marqeta by 7.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 46,670 shares of the company’s stock valued at $174,000 after buying an additional 3,155 shares during the period. Finally, Xponance Inc. lifted its position in Marqeta by 11.5% in the 4th quarter. Xponance Inc. now owns 34,314 shares of the company’s stock worth $130,000 after buying an additional 3,546 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

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.