Marqeta (NASDAQ:MQ) Price Target Raised to $4.50

Marqeta (NASDAQ:MQ) had its price target raised by The Goldman Sachs Group from $4.00 to $4.50 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. decreased their price objective on Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods lowered their price target on Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company decreased their price target on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. William Blair lowered shares of Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley dropped their price objective on Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.69.

Marqeta Stock Performance

Marqeta stock opened at $4.25 on Thursday. The stock has a 50-day simple moving average of $3.77 and a 200-day simple moving average of $4.40. The company has a market capitalization of $2.14 billion, a P/E ratio of 212.50 and a beta of 1.52. Marqeta has a fifty-two week low of $3.37 and a fifty-two week high of $7.36.

Marqeta (NASDAQ:MQ) last released its earnings results on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.05. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company had revenue of $135.79 million during the quarter, compared to analysts’ expectations of $132.71 million. As a group, analysts forecast that Marqeta will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MQ. Headlands Technologies LLC acquired a new position in shares of Marqeta during the 4th quarter worth about $33,000. Covestor Ltd increased its holdings in Marqeta by 1,255.4% during the fourth quarter. Covestor Ltd now owns 10,030 shares of the company’s stock worth $38,000 after buying an additional 9,290 shares during the last quarter. Bank of Montreal Can lifted its stake in Marqeta by 125.6% in the 4th quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock valued at $38,000 after purchasing an additional 49,243 shares during the last quarter. Blueshift Asset Management LLC acquired a new stake in Marqeta during the 4th quarter valued at $38,000. Finally, Stifel Financial Corp bought a new stake in shares of Marqeta during the 4th quarter worth about $41,000. Institutional investors and hedge funds 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.