Marqeta, Inc. (NASDAQ:MQ) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Marqeta, Inc. (NASDAQ:MQ) have been given a consensus recommendation of “Hold” by the eleven brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $19.75.

MQ has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Marqeta from $4.50 to $18.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Weiss Ratings upgraded Marqeta from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Zacks Research raised Marqeta from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Marqeta from $18.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, August 5th.

Marqeta Stock Performance

MQ stock opened at $15.92 on Friday. The stock has a fifty day moving average of $16.57 and a 200-day moving average of $16.34. Marqeta has a fifty-two week low of $14.80 and a fifty-two week high of $23.14. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 144.73 and a beta of 1.29.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $176.00 million for the quarter, compared to analysts’ expectations of $172.96 million. Marqeta had a return on equity of 1.36% and a net margin of 1.53%.Marqeta’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities analysts predict that Marqeta will post 0.28 EPS for the current year.

Insider Activity

In related news, CRO Todd Pollak sold 18,750 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $16.88, for a total transaction of $316,500.00. Following the completion of the sale, the executive directly owned 185,008 shares in the company, valued at $3,122,935.04. This represents a 9.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 hedge funds and other institutional investors have recently bought and sold shares of MQ. Corient Private Wealth LLC lifted its holdings in shares of Marqeta by 5.1% during the 4th quarter. Corient Private Wealth LLC now owns 131,966 shares of the company’s stock valued at $627,000 after purchasing an additional 6,403 shares during the last quarter. Western Wealth Management LLC acquired a new position in Marqeta during the 1st quarter valued at about $27,000. Leonteq Securities AG purchased a new stake in Marqeta in the fourth quarter valued at about $33,000. Allspring Global Investments Holdings LLC grew its stake in shares of Marqeta by 11.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 77,630 shares of the company’s stock worth $305,000 after acquiring an additional 7,919 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Marqeta by 8.9% during the second quarter. Handelsbanken Fonder AB now owns 113,000 shares of the company’s stock valued at $459,000 after buying an additional 9,200 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

Marqeta Company Profile

Marqeta, Inc is a financial technology company that provides modern card-issuing and payment-processing infrastructure. Its cloud-based platform enables businesses to create, launch and manage physical, virtual and tokenized payment cards through application programming interfaces (APIs), without building a payments system from the ground up.

The company’s services include card issuance, transaction processing, payment authorization, fraud and risk management, digital wallet tokenization, real-time transaction controls and just-in-time funding.