Marqeta (NASDAQ:MQ) Trading 4.8% Higher

Marqeta, Inc. (NASDAQ:MQ) shares rose 4.8% during mid-day trading on Thursday . The company traded as high as $5.73 and last traded at $5.65. Approximately 3,457,641 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 5,182,288 shares. The stock had previously closed at $5.39.

Analyst Upgrades and Downgrades

MQ has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on shares of Marqeta from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Keefe, Bruyette & Woods raised their price target on shares of Marqeta from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Friday, March 1st. KeyCorp upped their price objective on Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, January 8th. Truist Financial reissued a “buy” rating and set a $10.00 target price (up previously from $9.00) on shares of Marqeta in a research note on Thursday, February 29th. Finally, Barclays lifted their target price on Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Marqeta presently has a consensus rating of “Moderate Buy” and an average target price of $7.57.

Marqeta Stock Down 2.9 %

The company’s 50 day moving average price is $6.05 and its 200 day moving average price is $6.06.

Marqeta (NASDAQ:MQ) last released its earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $118.82 million for the quarter, compared to analyst estimates of $110.80 million. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The firm’s quarterly revenue was down 41.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) EPS. As a group, sell-side analysts expect that Marqeta, Inc. will post -0.35 EPS for the current year.

Hedge Funds Weigh In On Marqeta

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. purchased a new stake in shares of Marqeta during the 1st quarter worth $38,000. Amundi acquired a new position in shares of Marqeta during the 4th quarter worth about $27,000. Captrust Financial Advisors acquired a new position in shares of Marqeta during the 1st quarter worth about $53,000. KBC Group NV purchased a new position in shares of Marqeta in the 4th quarter valued at about $66,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Marqeta during the 2nd quarter worth about $81,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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.