Marqeta (NASDAQ:MQ) Stock Rating Reaffirmed by William Blair

Marqeta (NASDAQ:MQ)‘s stock had its “outperform” rating restated by investment analysts at William Blair in a research report issued on Wednesday, RTT News reports.

MQ has been the subject of a number of other reports. Wells Fargo & Company upped their price objective on Marqeta from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Barclays increased their price target on shares of Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Bank of America upgraded shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Monday, February 12th. Truist Financial reaffirmed a “buy” rating and set a $10.00 target price (up previously from $9.00) on shares of Marqeta in a report on Thursday, February 29th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.61.

Marqeta Stock Performance

Marqeta stock opened at $6.11 on Wednesday. The stock has a market cap of $3.14 billion, a P/E ratio of -13.88 and a beta of 1.81. Marqeta has a fifty-two week low of $4.07 and a fifty-two week high of $7.36. The firm’s fifty day moving average price is $5.84 and its 200-day moving average price is $6.06.

Marqeta (NASDAQ:MQ) last announced its earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. The business had revenue of $117.90 million during the quarter, compared to analyst estimates of $117.05 million. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. Marqeta’s revenue for the quarter was down 45.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.13) earnings per share. Sell-side analysts predict that Marqeta will post -0.35 earnings per share for the current year.

Hedge Funds Weigh In On Marqeta

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its holdings in shares of Marqeta by 7,852.8% during the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after acquiring an additional 9,973 shares during the period. Profund Advisors LLC bought a new position in Marqeta in the third quarter worth $62,000. Empowered Funds LLC purchased a new position in Marqeta during the first quarter valued at $65,000. SVB Wealth LLC bought a new stake in shares of Marqeta during the 4th quarter valued at $70,000. Finally, Horizon Family Wealth Inc. purchased a new stake in shares of Marqeta in the 3rd quarter worth about $73,000. 78.64% of the stock is owned by hedge funds and other 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.