Marqeta’s (MQ) Equal Weight Rating Reiterated at Barclays

Barclays reiterated their equal weight rating on shares of Marqeta (NASDAQ:MQ) in a report issued on Tuesday, MarketBeat.com reports. The firm currently has a $4.00 price target on the stock, down from their prior price target of $5.00.

Several other research firms have also recently issued reports on MQ. KeyCorp cut shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. William Blair downgraded Marqeta from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Monness Crespi & Hardt cut Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 target price for the company. in a research report on Tuesday, November 5th. Wells Fargo & Company cut Marqeta from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $7.00 to $5.00 in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded Marqeta from a “buy” rating to a “hold” rating and dropped their price target for the company from $9.00 to $4.00 in a research report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.03.

Marqeta Price Performance

NASDAQ:MQ opened at $3.75 on Tuesday. Marqeta has a 1 year low of $3.37 and a 1 year high of $7.36. The stock’s fifty day moving average price is $4.40 and its two-hundred day moving average price is $4.93. The company has a market cap of $1.88 billion, a P/E ratio of 187.50 and a beta of 1.54.

Marqeta (NASDAQ:MQ) last issued its earnings results on Monday, November 4th. The company reported ($0.06) 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 the consensus estimate of $128.05 million. During the same quarter in the prior year, the business earned ($0.07) EPS. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. On average, analysts expect that Marqeta will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marqeta

Several institutional investors and hedge funds have recently made changes to their positions in MQ. Congress Asset Management Co. boosted its position in Marqeta by 46.8% during the third quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock valued at $5,194,000 after buying an additional 336,349 shares during the period. Visa Foundation bought a new position in Marqeta during the 2nd quarter worth approximately $68,197,000. Cerity Partners LLC purchased a new position in Marqeta in the 3rd quarter worth approximately $1,466,000. Main Management ETF Advisors LLC bought a new stake in Marqeta in the third quarter valued at approximately $786,000. Finally, GSA Capital Partners LLP boosted its stake in shares of Marqeta by 671.7% during the third quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock valued at $1,153,000 after purchasing an additional 204,026 shares during the period. 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.