Marqeta, Inc. (NASDAQ:MQ) Receives $20.12 Average PT from Brokerages

Shares of Marqeta, Inc. (NASDAQ:MQ) have earned an average recommendation of “Reduce” from the eleven research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $20.1250.

A number of brokerages recently issued reports on MQ. Deutsche Bank Aktiengesellschaft increased their target price on shares of Marqeta from $4.50 to $18.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a research report on Wednesday, June 24th. Finally, UBS Group upped their price target on shares of Marqeta from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th.

Insider Activity at Marqeta

In other Marqeta news, CRO Todd Pollak sold 18,750 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.88, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Elaine Paul sold 4,537 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $15.20, for a total value of $68,962.40. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Quarry LP acquired a new position in Marqeta during the third quarter worth about $26,000. Western Wealth Management LLC acquired a new stake in Marqeta in the 1st quarter valued at about $27,000. EFG International AG acquired a new stake in Marqeta in the 4th quarter valued at about $27,000. CWM LLC boosted its position in shares of Marqeta by 82.2% during the 4th quarter. CWM LLC now owns 6,254 shares of the company’s stock valued at $30,000 after purchasing an additional 2,821 shares in the last quarter. Finally, Leonteq Securities AG bought a new position in shares of Marqeta during the 4th quarter valued at about $33,000. Institutional investors own 78.64% of the company’s stock.

Marqeta Stock Performance

Shares of MQ opened at $17.85 on Thursday. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 446.36 and a beta of 1.30. Marqeta has a one year low of $14.80 and a one year high of $28.16. The stock’s fifty day moving average is $16.38 and its 200-day moving average is $16.46.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $165.80 million for the quarter, compared to analysts’ expectations of $164.30 million. Marqeta had a net margin of 0.33% and a return on equity of 0.27%. The company’s revenue was up 19.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) earnings per share. Analysts forecast that Marqeta will post 0.12 EPS for the current fiscal year.

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.