Morgan Stanley Boosts Marqeta (NASDAQ:MQ) Price Target to $20.00

Marqeta (NASDAQ:MQ) had its price target raised by stock analysts at Morgan Stanley from $5.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 392.61% from the stock’s current price.

A number of other equities research analysts have also commented on MQ. UBS Group upped their price objective on shares of Marqeta from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $20.88.

Marqeta Stock Performance

Shares of NASDAQ:MQ opened at $4.06 on Wednesday. The firm has a market cap of $1.72 billion, a PE ratio of 406.41 and a beta of 1.32. Marqeta has a 52 week low of $3.70 and a 52 week high of $7.04. The firm’s fifty day moving average is $4.04 and its 200-day moving average is $4.22.

Marqeta (NASDAQ:MQ) last announced its earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.09. Marqeta had a return on equity of 0.27% and a net margin of 0.33%.The firm had revenue of $165.80 million for the quarter, compared to the consensus estimate of $164.30 million. During the same period in the previous year, the business earned ($0.08) EPS. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. Sell-side analysts forecast that Marqeta will post 0.04 EPS for the current year.

Insider Buying and Selling

In other Marqeta news, Director Elaine Paul sold 4,537 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $15.20, for a total transaction of $68,962.40. Following the completion of the sale, the director directly owned 8,900 shares of the company’s stock, valued at approximately $135,280. The trade was a 33.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 12.61% of the company’s stock.

Hedge Funds Weigh In On Marqeta

Institutional investors have recently modified their holdings of the business. Quarry LP bought a new stake in Marqeta during the third quarter worth $26,000. Western Wealth Management LLC purchased a new stake in shares of Marqeta during the 1st quarter valued at $27,000. EFG International AG purchased a new stake in shares of Marqeta during the 4th quarter valued at $27,000. CWM LLC raised its stake in shares of Marqeta by 82.2% during the 4th quarter. CWM LLC now owns 6,254 shares of the company’s stock worth $30,000 after purchasing an additional 2,821 shares during the period. Finally, Leonteq Securities AG bought a new stake in shares of Marqeta during the 4th quarter worth $33,000. 78.64% of the stock is owned by institutional investors.

About Marqeta

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.