Marqeta (NASDAQ:MQ) Shares Up 4.8%

Shares of Marqeta, Inc. (NASDAQ:MQ) shot up 4.8% on Thursday . The company traded as high as $5.73 and last traded at $5.65. 3,457,641 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 5,182,288 shares. The stock had previously closed at $5.39.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MQ. Bank of America raised Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Monday, February 12th. KeyCorp raised their price objective on Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, January 8th. Keefe, Bruyette & Woods raised their price objective on Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Friday, March 1st. Barclays lifted their price target on Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, Wells Fargo & Company lifted their price target on Marqeta from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Marqeta currently has an average rating of “Moderate Buy” and a consensus price target of $7.57.

Marqeta Stock Up 1.5 %

The firm has a market capitalization of $2.81 billion, a P/E ratio of -12.83 and a beta of 1.84. The business has a 50-day moving average price of $6.06 and a 200-day moving average price of $6.07.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. The business had revenue of $118.82 million for the quarter, compared to analyst estimates of $110.80 million. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. Marqeta’s quarterly revenue was down 41.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) EPS. As a group, sell-side analysts forecast that Marqeta, Inc. will post -0.35 EPS for the current year.

Institutional Trading of Marqeta

Institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. acquired a new stake in Marqeta in the 1st quarter valued at $38,000. Amundi acquired a new position in Marqeta in the fourth quarter worth $27,000. Captrust Financial Advisors acquired a new position in Marqeta in the first quarter worth $53,000. KBC Group NV acquired a new position in Marqeta in the fourth quarter worth $66,000. Finally, Atria Wealth Solutions Inc. acquired a new position in Marqeta in the second quarter worth $81,000. 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.