Morgan Stanley Cuts Marqeta (NASDAQ:MQ) Price Target to $5.00

Marqeta (NASDAQ:MQ) had its price objective cut by Morgan Stanley from $6.00 to $5.00 in a research note released on Wednesday, MarketBeat reports. They currently have an equal weight rating on the stock.

Several other analysts also recently commented on MQ. Keefe, Bruyette & Woods lowered their price objective on Marqeta from $6.00 to $5.50 and set a “market perform” rating for the company in a research note on Friday, January 2nd. Zacks Research downgraded Marqeta from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. JPMorgan Chase & Co. initiated coverage on Marqeta in a research report on Tuesday, February 17th. They issued an “overweight” rating and a $6.00 price target for the company. Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a research note on Monday, December 29th. Finally, Wolfe Research downgraded shares of Marqeta from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $5.14.

Marqeta Trading Down 2.0%

Marqeta stock opened at $3.84 on Wednesday. Marqeta has a 1-year low of $3.47 and a 1-year high of $7.04. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -128.00 and a beta of 1.48. The firm’s fifty day moving average price is $4.40 and its two-hundred day moving average price is $4.95.

Marqeta (NASDAQ:MQ) last posted its earnings results on Tuesday, February 24th. The company reported $0.00 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.01. Marqeta had a negative net margin of 2.23% and a negative return on equity of 1.62%. The company had revenue of $172.11 million during the quarter, compared to the consensus estimate of $167.05 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, research analysts forecast that Marqeta will post 0.06 EPS for the current year.

Insider Buying and Selling

In other Marqeta news, Director Jason M. Gardner sold 69,043 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $5.00, for a total value of $345,215.00. Following the transaction, the director owned 293,334 shares of the company’s stock, valued at approximately $1,466,670. The trade was a 19.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 218,509 shares of company stock worth $1,092,545 in the last 90 days. Company insiders own 12.61% of the company’s stock.

Institutional Investors Weigh In On Marqeta

Several large investors have recently made changes to their positions in the business. Quarry LP bought a new stake in shares of Marqeta during the 3rd quarter worth $26,000. EFG International AG purchased a new stake in Marqeta during the fourth quarter worth about $27,000. CWM LLC raised its position in Marqeta by 82.2% in the fourth quarter. CWM LLC now owns 6,254 shares of the company’s stock worth $30,000 after acquiring an additional 2,821 shares during the period. Leonteq Securities AG purchased a new position in Marqeta in the fourth quarter valued at about $33,000. Finally, Nisa Investment Advisors LLC boosted its stake in Marqeta by 61.8% in the second quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company’s stock valued at $57,000 after acquiring an additional 3,737 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Company Profile

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.