The Goldman Sachs Group Forecasts Strong Price Appreciation for Marqeta (NASDAQ:MQ) Stock

Marqeta (NASDAQ:MQ) had its price objective lifted by The Goldman Sachs Group from $5.50 to $7.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 15.03% from the company’s previous close.

Several other research analysts have also recently commented on the company. JPMorgan Chase & Co. raised Marqeta from a “neutral” rating to an “overweight” rating and increased their price target for the company from $5.00 to $6.00 in a research report on Monday, May 19th. UBS Group upped their price objective on Marqeta from $5.00 to $5.75 and gave the stock a “neutral” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on Marqeta in a report on Thursday, July 17th. They issued a “hold” rating and a $6.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on shares of Marqeta from $4.50 to $6.50 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. Finally, Barclays upped their price target on shares of Marqeta from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Marqeta presently has an average rating of “Hold” and a consensus price target of $6.11.

Marqeta Trading Down 4.5%

Marqeta stock opened at $6.52 on Thursday. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.04. The company has a fifty day simple moving average of $5.73 and a 200 day simple moving average of $4.70. The company has a market cap of $3.05 billion, a P/E ratio of -50.15 and a beta of 1.54.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate 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 negative return on equity of 6.45% and a negative net margin of 11.69%. Marqeta’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS. On average, equities research analysts forecast that Marqeta will post 0.06 EPS for the current year.

Insider Transactions at Marqeta

In other Marqeta news, Director Jason M. Gardner sold 2,250,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $6.63, for a total value of $14,917,500.00. Following the sale, the director owned 15,399,000 shares in the company, valued at $102,095,370. This represents a 12.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.12% of the stock is owned by corporate insiders.

Institutional Trading of Marqeta

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can raised its stake in Marqeta by 125.6% in the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock valued at $38,000 after buying an additional 49,243 shares during the period. Covestor Ltd raised its stake in Marqeta by 1,255.4% in the fourth quarter. Covestor Ltd now owns 10,030 shares of the company’s stock valued at $38,000 after buying an additional 9,290 shares during the period. Stifel Financial Corp bought a new stake in Marqeta in the fourth quarter valued at approximately $41,000. Alpine Global Management LLC bought a new stake in Marqeta in the first quarter valued at approximately $42,000. Finally, Blueshift Asset Management LLC raised its stake in Marqeta by 23.2% in the first quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company’s stock valued at $51,000 after buying an additional 2,333 shares during the period. Institutional investors own 78.64% of the company’s stock.

Marqeta Company Profile

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.