Marqeta (NASDAQ:MQ) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Marqeta (NASDAQ:MQ) had its price objective increased by research analysts at Deutsche Bank Aktiengesellschaft from $4.50 to $18.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 5.60% from the company’s previous close.

Several other equities analysts have also commented on MQ. Weiss Ratings reiterated a “sell (d)” rating on shares of Marqeta in a research note on Wednesday, June 24th. UBS Group boosted their price objective on shares of Marqeta from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $20.12.

Marqeta Price Performance

Shares of MQ stock traded up $0.43 during trading hours on Thursday, reaching $17.05. 143,406 shares of the stock were exchanged, compared to its average volume of 1,008,282. Marqeta has a 12-month low of $14.80 and a 12-month high of $28.16. The firm has a market capitalization of $7.23 billion, a P/E ratio of 1,701.80 and a beta of 1.31. The business’s fifty day moving average is $16.15 and its two-hundred day moving average is $16.84.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $165.80 million during the quarter, compared to analysts’ expectations of $164.30 million. Marqeta had a return on equity of 0.27% and a net margin of 0.33%.The business’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) EPS. As a group, equities research analysts predict that Marqeta will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Marqeta

In other Marqeta news, Director Elaine Paul sold 4,537 shares of the company’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 $135,280. This represents a 33.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in shares of Marqeta by 187.2% during the first quarter. Parallel Advisors LLC now owns 19,515 shares of the company’s stock worth $80,000 after purchasing an additional 12,721 shares during the last quarter. Financial Solutions Advisory Group Inc. purchased a new position in Marqeta in the 1st quarter valued at $41,000. Western Wealth Management LLC acquired a new position in Marqeta in the 1st quarter valued at $27,000. Bank of America Corp DE raised its position in Marqeta by 34.3% during the 1st quarter. Bank of America Corp DE now owns 2,667,942 shares of the company’s stock worth $10,885,000 after buying an additional 681,111 shares during the last quarter. Finally, Amundi lifted its stake in shares of Marqeta by 99.6% in the 1st quarter. Amundi now owns 20,301 shares of the company’s stock worth $83,000 after acquiring an additional 10,129 shares during the period. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

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.