Marqeta (NASDAQ:MQ) Shares Gap Down – Time to Sell?

Marqeta, Inc. (NASDAQ:MQ) gapped down before the market opened on Tuesday . The stock had previously closed at $4.03, but opened at $3.89. Marqeta shares last traded at $4.03, with a volume of 239,523 shares traded.

Analyst Ratings Changes

A number of research firms recently weighed in on MQ. The Goldman Sachs Group dropped their target price on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. KeyCorp cut Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Susquehanna reduced their price objective on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Barclays restated an “equal weight” rating and issued a $4.00 target price (down previously from $5.00) on shares of Marqeta in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut shares of Marqeta from a “buy” rating to a “hold” rating and cut their price objective for the stock from $9.00 to $4.00 in a report on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Marqeta presently has an average rating of “Hold” and a consensus price target of $6.03.

Marqeta Stock Performance

The business’s fifty day moving average price is $4.42 and its 200-day moving average price is $4.94. The stock has a market cap of $1.86 billion, a PE ratio of 185.50 and a beta of 1.54.

Marqeta (NASDAQ:MQ) last issued its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $128.05 million. During the same quarter in the prior year, the business posted ($0.07) EPS. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. Analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MQ. Vanguard Personalized Indexing Management LLC increased its stake in shares of Marqeta by 8.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock worth $246,000 after purchasing an additional 3,548 shares in the last quarter. Primecap Management Co. CA increased its position in Marqeta by 0.7% in the third quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock worth $2,402,000 after buying an additional 3,627 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Marqeta by 9.9% in the second quarter. Principal Financial Group Inc. now owns 60,636 shares of the company’s stock worth $332,000 after buying an additional 5,481 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Marqeta by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock valued at $1,385,000 after buying an additional 5,515 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Marqeta by 6.5% during the 2nd quarter. Arizona State Retirement System now owns 116,295 shares of the company’s stock valued at $637,000 after acquiring an additional 7,097 shares during the period. 78.64% of the stock is owned by hedge funds and other institutional investors.

About Marqeta

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.