Marqeta (NASDAQ:MQ) Lowered to Hold Rating by Mizuho

Marqeta (NASDAQ:MQ) was downgraded by analysts at Mizuho from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Several other brokerages have also recently issued reports on MQ. Keefe, Bruyette & Woods dropped their price objective on shares of Marqeta from $6.00 to $5.50 and set a “market perform” rating for the company in a research note on Friday, January 2nd. Citigroup upgraded Marqeta to a “hold” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group set a $5.00 price objective on Marqeta and gave the stock a “sell” rating in a research report on Monday, October 13th. Wolfe Research cut Marqeta from an “outperform” rating to a “peer perform” rating in a report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marqeta in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $5.33.

Marqeta Stock Performance

Shares of MQ opened at $4.81 on Thursday. Marqeta has a one year low of $3.47 and a one year high of $7.04. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -60.13 and a beta of 1.48. The stock has a 50 day moving average price of $4.80 and a 200 day moving average price of $5.36.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Marqeta had a negative return on equity of 4.22% and a negative net margin of 6.74%.The company had revenue of $163.31 million for the quarter, compared to analyst estimates of $148.37 million. During the same quarter last year, the firm posted ($0.06) EPS. The firm’s revenue for the quarter was up 27.7% on a year-over-year basis. On average, analysts predict that Marqeta will post 0.06 earnings per share for the current year.

Insider Buying and Selling at Marqeta

In related news, Director Jason M. Gardner sold 113,366 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $5.00, for a total transaction of $566,830.00. Following the completion of the sale, the director directly owned 303,467 shares of the company’s stock, valued at approximately $1,517,335. This trade represents a 27.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 218,509 shares of company stock worth $1,092,545. Corporate insiders own 12.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new stake in shares of Marqeta during the third quarter valued at about $26,000. CTC Alternative Strategies Ltd. purchased a new position in shares of Marqeta during the 3rd quarter worth approximately $55,000. Nisa Investment Advisors LLC increased its holdings in Marqeta by 61.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company’s stock valued at $57,000 after purchasing an additional 3,737 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Marqeta in the first quarter valued at approximately $57,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Marqeta during the third quarter worth $60,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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.