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

Marqeta, Inc. (NASDAQ:MQ) gapped down before the market opened on Friday . The stock had previously closed at $3.84, but opened at $3.62. Marqeta shares last traded at $3.74, with a volume of 738,980 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MQ shares. Susquehanna reduced their target price on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. The Goldman Sachs Group decreased their target price on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Wells Fargo & Company lowered shares of Marqeta from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $7.00 to $5.00 in a report on Tuesday, November 5th. Morgan Stanley lowered their price target on Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Finally, Mizuho dropped their target price on Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.82.

Marqeta Stock Performance

The company’s 50 day simple moving average is $3.94 and its 200 day simple moving average is $4.78. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 183.50 and a beta of 1.52.

Marqeta (NASDAQ:MQ) last announced 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). The firm had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. Marqeta’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) EPS. Sell-side analysts predict that Marqeta, Inc. will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Marqeta

Several large investors have recently made changes to their positions in MQ. Vanguard Personalized Indexing Management LLC lifted its stake in Marqeta by 8.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock valued at $246,000 after purchasing an additional 3,548 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of Marqeta by 0.7% during the 3rd quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock worth $2,402,000 after acquiring an additional 3,627 shares in the last quarter. Principal Financial Group Inc. boosted its holdings 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 boosted its stake in Marqeta by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock worth $1,385,000 after purchasing an additional 5,515 shares during the period. Finally, Arizona State Retirement System raised its position in Marqeta by 6.5% during the second quarter. Arizona State Retirement System now owns 116,295 shares of the company’s stock valued at $637,000 after buying an additional 7,097 shares during the period. Institutional investors own 78.64% of the company’s stock.

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.