Marqeta (NASDAQ:MQ) Earns Equal Weight Rating from Barclays

Barclays reaffirmed their equal weight rating on shares of Marqeta (NASDAQ:MQ) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm currently has a $4.00 price objective on the stock, down from their prior price objective of $5.00.

MQ has been the topic of a number of other research reports. Morgan Stanley reduced their price target on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Monness Crespi & Hardt downgraded shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a research note on Tuesday, November 5th. The Goldman Sachs Group dropped their target price on Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. JPMorgan Chase & Co. reduced their price target on Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded Marqeta from a “buy” rating to a “hold” rating and dropped their price objective 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.com, the company has a consensus rating of “Hold” and an average target price of $6.03.

Marqeta Stock Performance

Shares of NASDAQ MQ opened at $3.89 on Tuesday. Marqeta has a 52-week low of $3.37 and a 52-week high of $7.36. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 194.50 and a beta of 1.54. The stock has a 50 day moving average price of $4.45 and a 200 day moving average price of $4.95.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in shares of Marqeta by 65.6% during the second quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company’s stock valued at $14,362,000 after buying an additional 1,038,577 shares during the last quarter. Principal Financial Group Inc. grew its stake in Marqeta by 9.9% during the 2nd quarter. Principal Financial Group Inc. now owns 60,636 shares of the company’s stock valued at $332,000 after purchasing an additional 5,481 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Marqeta by 5.7% in the second quarter. Commonwealth Equity Services LLC now owns 460,361 shares of the company’s stock valued at $2,523,000 after purchasing an additional 25,012 shares during the period. Picton Mahoney Asset Management purchased a new position in shares of Marqeta in the second quarter worth about $159,000. Finally, Visa Foundation acquired a new stake in shares of Marqeta during the second quarter worth about $68,197,000. 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.