Marqeta (NASDAQ:MQ) Shares Up 4.8%

Marqeta, Inc. (NASDAQ:MQ)’s share price was up 4.8% during trading on Thursday . The company traded as high as $5.73 and last traded at $5.65. Approximately 3,457,641 shares changed hands during trading, a decline of 33% from the average daily volume of 5,182,288 shares. The stock had previously closed at $5.39.

Analysts Set New Price Targets

A number of equities analysts have commented on MQ shares. Barclays raised their price objective on Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods raised their price objective on Marqeta from $7.00 to $8.00 and gave the stock a “market perform” rating in a research note on Friday, March 1st. KeyCorp raised their price objective on Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, January 8th. Wells Fargo & Company lifted their price target on Marqeta from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Bank of America upgraded Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $7.57.

Marqeta Trading Up 1.5 %

The business has a fifty day simple moving average of $6.06 and a 200 day simple moving average of $6.07. The stock has a market capitalization of $2.81 billion, a P/E ratio of -12.83 and a beta of 1.84.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The firm had revenue of $118.82 million during the quarter, compared to analyst estimates of $110.80 million. During the same period in the previous year, the company posted ($0.05) EPS. The company’s revenue for the quarter was down 41.7% on a year-over-year basis. As a group, research analysts forecast that Marqeta, Inc. will post -0.35 earnings per share for the current year.

Hedge Funds Weigh In On Marqeta

Institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. purchased a new position in Marqeta in the first quarter valued at approximately $38,000. Amundi purchased a new position in Marqeta in the fourth quarter valued at approximately $27,000. Captrust Financial Advisors purchased a new stake in shares of Marqeta during the first quarter worth $53,000. KBC Group NV purchased a new stake in shares of Marqeta during the fourth quarter worth $66,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of Marqeta during the second quarter worth $81,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Company Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.