Marqeta (NASDAQ:MQ – Get Free Report) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.
Other research analysts also recently issued research reports about the stock. UBS Group upped their price objective on shares of Marqeta from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Marqeta from $4.50 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Marqeta from $18.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Marqeta from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.75.
View Our Latest Analysis on MQ
Marqeta Trading Up 5.0%
Marqeta (NASDAQ:MQ – Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. Marqeta had a return on equity of 1.36% and a net margin of 1.53%.The firm had revenue of $176.00 million for the quarter, compared to the consensus estimate of $172.96 million. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, equities analysts predict that Marqeta will post 0.27 EPS for the current year.
Insider Activity
In other Marqeta news, Director Elaine Paul sold 4,537 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $15.20, for a total value of $68,962.40. Following the transaction, the director directly owned 8,900 shares of the company’s stock, valued at $135,280. This trade represents a 33.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Todd Pollak sold 18,750 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.88, for a total value of $316,500.00. Following the transaction, the executive directly owned 185,008 shares in the company, valued at $3,122,935.04. This trade represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 13.71% of the company’s stock.
Institutional Trading of Marqeta
Several institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in Marqeta during the third quarter valued at approximately $26,000. Western Wealth Management LLC acquired a new position in shares of Marqeta in the 1st quarter valued at about $27,000. EFG International AG acquired a new position in shares of Marqeta in the 4th quarter valued at about $27,000. CWM LLC grew its position in shares of Marqeta by 82.2% during the 4th quarter. CWM LLC now owns 6,254 shares of the company’s stock valued at $30,000 after buying an additional 2,821 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in Marqeta during the fourth quarter worth about $33,000. 78.64% of the stock is owned by institutional investors and hedge funds.
About Marqeta
Marqeta is a modern card issuing and payment processing platform that enables businesses to design, launch and manage customized payment cards. The company offers a fully programmable open API that allows clients to create virtual, physical and tokenized payment cards with real-time transaction controls and dynamic spend limits. By leveraging Marqeta’s infrastructure, companies can streamline their payment operations, reduce time to market and deliver tailored payment experiences to end consumers.
Founded in 2010 and headquartered in Oakland, California, Marqeta was established by CEO Jason Gardner with the goal of transforming traditional card issuance through cloud-native technology.
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