Marqeta (NASDAQ:MQ) Price Target Raised to $21.00

Marqeta (NASDAQ:MQ) had its price objective raised by UBS Group from $19.00 to $21.00 in a research note released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently weighed in on MQ. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marqeta in a report on Tuesday. Susquehanna reiterated a “positive” rating and issued a $25.00 price target on shares of Marqeta in a research note on Wednesday. Keefe, Bruyette & Woods raised their price target on Marqeta from $18.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, August 5th. Finally, Zacks Research cut Marqeta from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 13th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.71.

Marqeta Price Performance

MQ opened at $18.59 on Thursday. The firm has a market cap of $1.94 billion, a P/E ratio of 14.99 and a beta of 1.02. Marqeta has a 1-year low of $14.80 and a 1-year high of $20.56. The company has a 50 day simple moving average of $17.31 and a two-hundred day simple moving average of $16.63.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $1.03. The firm had revenue of $176.18 million during the quarter, compared to analysts’ expectations of $175.40 million. Marqeta had a net margin of 18.76% and a return on equity of 3.28%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) earnings per share. Equities analysts anticipate that Marqeta will post 0.62 earnings per share for the current year.

Institutional Investors Weigh In On Marqeta

A number of institutional investors have recently added to or reduced their stakes in MQ. Parallel Advisors LLC purchased a new position in shares of Marqeta in the third quarter worth $67,000. Allworth Financial LP grew its stake in Marqeta by 118.6% during the third quarter. Allworth Financial LP now owns 5,882 shares of the company’s stock valued at $100,000 after acquiring an additional 3,191 shares in the last quarter. Western Wealth Management LLC purchased a new position in Marqeta during the first quarter valued at $27,000. Financial Solutions Advisory Group Inc. purchased a new position in Marqeta during the first quarter valued at $41,000. Finally, Amundi increased its holdings in Marqeta by 99.6% in the 1st quarter. Amundi now owns 20,301 shares of the company’s stock valued at $83,000 after acquiring an additional 10,129 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Company Profile

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

The company’s platform supports card authorization and transaction processing, digital wallets, payment tokenization, fraud prevention and configurable spending controls.