Marqeta (NASDAQ:MQ) Trading Up 3.9% – Still a Buy?

by · The Markets Daily

Marqeta, Inc. (NASDAQ:MQGet Free Report) was up 3.9% on Friday . The company traded as high as $4.09 and last traded at $4.0850. Approximately 1,752,407 shares changed hands during trading, a decline of 56% from the average daily volume of 3,955,654 shares. The stock had previously closed at $3.93.

Analyst Ratings Changes

A number of analysts have weighed in on MQ shares. Zacks Research downgraded Marqeta from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Mizuho reissued a “neutral” rating and issued a $4.50 price objective (down from $8.00) on shares of Marqeta in a research note on Thursday, January 8th. Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a research report on Monday, December 29th. Wolfe Research downgraded Marqeta from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Finally, UBS Group cut their price target on Marqeta from $5.00 to $4.25 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Marqeta currently has an average rating of “Reduce” and a consensus price target of $5.14.

Get Our Latest Report on Marqeta

Marqeta Price Performance

The firm has a fifty day simple moving average of $4.17 and a 200-day simple moving average of $4.74. The firm has a market cap of $1.75 billion, a P/E ratio of -136.17 and a beta of 1.48.

Marqeta (NASDAQ:MQGet Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.01. Marqeta had a negative return on equity of 1.62% and a negative net margin of 2.23%.The firm had revenue of $172.11 million during the quarter, compared to the consensus estimate of $167.05 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 26.7% on a year-over-year basis. On average, equities analysts predict that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Insider Transactions at Marqeta

In other Marqeta news, Director Judson C. Linville purchased 25,570 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was acquired at an average price of $3.93 per share, for a total transaction of $100,490.10. Following the purchase, the director owned 104,220 shares of the company’s stock, valued at $409,584.60. This trade represents a 32.51% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 12.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MQ. Nordea Investment Management AB lifted its position in Marqeta by 193.0% in the 3rd quarter. Nordea Investment Management AB now owns 2,360,309 shares of the company’s stock valued at $12,510,000 after acquiring an additional 1,554,741 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Marqeta by 272.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 520,956 shares of the company’s stock worth $3,037,000 after purchasing an additional 381,016 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Marqeta by 2,582.3% in the third quarter. Principal Financial Group Inc. now owns 719,166 shares of the company’s stock worth $3,797,000 after purchasing an additional 692,354 shares during the last quarter. Norges Bank purchased a new stake in shares of Marqeta in the second quarter worth approximately $4,057,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Marqeta in the second quarter valued at approximately $44,463,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Company Profile

(Get Free Report)

Marqeta is a modern card issuing and payment processing platform that enables businesses to design, launch and manage customized payment cards. The company offers a fully programmable open API that allows clients to create virtual, physical and tokenized payment cards with real-time transaction controls and dynamic spend limits. By leveraging Marqeta’s infrastructure, companies can streamline their payment operations, reduce time to market and deliver tailored payment experiences to end consumers.

Founded in 2010 and headquartered in Oakland, California, Marqeta was established by CEO Jason Gardner with the goal of transforming traditional card issuance through cloud-native technology.

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