Marqeta (NASDAQ:MQ) Rating Lowered to “Hold” at Zacks Research

Marqeta (NASDAQ:MQ) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks reports.

MQ has been the topic of several other reports. Deutsche Bank Aktiengesellschaft increased their target price on Marqeta from $4.50 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Weiss Ratings raised shares of Marqeta from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Marqeta from $18.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.71.

Marqeta Stock Down 2.0%

Shares of MQ stock opened at $18.18 on Tuesday. The company has a market cap of $1.89 billion, a P/E ratio of 165.27 and a beta of 1.21. The business has a 50 day moving average of $16.47 and a two-hundred day moving average of $16.44. Marqeta has a 52 week low of $14.80 and a 52 week high of $22.28.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. Marqeta had a return on equity of 1.36% and a net margin of 1.53%. The business had revenue of $176.00 million for the quarter, compared to the consensus estimate of $172.96 million. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. Analysts expect that Marqeta will post 0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Marqeta

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC increased its holdings in shares of Marqeta by 5.1% during the fourth 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 period. Western Wealth Management LLC acquired a new stake in Marqeta in the first quarter worth about $27,000. Allspring Global Investments Holdings LLC lifted its holdings in Marqeta by 11.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 77,630 shares of the company’s stock worth $305,000 after purchasing an additional 7,919 shares during the period. Handelsbanken Fonder AB lifted its holdings in Marqeta by 8.9% in the second quarter. Handelsbanken Fonder AB now owns 113,000 shares of the company’s stock worth $459,000 after purchasing an additional 9,200 shares during the period. Finally, Abel Hall LLC grew its position in Marqeta by 67.6% in the 1st quarter. Abel Hall LLC now owns 23,630 shares of the company’s stock valued at $96,000 after buying an additional 9,533 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Company Profile

Marqeta, Inc is a financial technology company that provides a modern card-issuing and payment-processing platform. Its cloud-based infrastructure enables businesses to create, launch and manage physical, virtual and tokenized payment cards through application programming interfaces (APIs), without building a card program and processing network entirely in-house.

The Marqeta platform supports transaction processing, authorization, funding, digital wallet integration, card controls and fraud prevention.