William Blair Reaffirms “Outperform” Rating for Marqeta (NASDAQ:MQ)

Marqeta (NASDAQ:MQ)‘s stock had its “outperform” rating reaffirmed by equities research analysts at William Blair in a research report issued on Wednesday, RTT News reports.

Several other equities research analysts also recently issued reports on MQ. Monness Crespi & Hardt boosted their price objective on shares of Marqeta from $7.50 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America raised shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Monday, February 12th. Keefe, Bruyette & Woods lifted their price target on shares of Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Friday, March 1st. Truist Financial reissued a “buy” rating and issued a $10.00 target price (up previously from $9.00) on shares of Marqeta in a report on Thursday, February 29th. Finally, Wells Fargo & Company raised their price target on Marqeta from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.61.

Marqeta Price Performance

MQ stock opened at $6.11 on Wednesday. Marqeta has a 12 month low of $4.07 and a 12 month high of $7.36. The firm has a market capitalization of $3.14 billion, a PE ratio of -13.88 and a beta of 1.81. The company’s 50 day simple moving average is $5.84 and its 200-day simple moving average is $6.06.

Marqeta (NASDAQ:MQ) last announced its earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The firm had revenue of $117.90 million during the quarter, compared to the consensus estimate of $117.05 million. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The firm’s revenue for the quarter was down 45.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.13) EPS. As a group, sell-side analysts anticipate that Marqeta will post -0.35 earnings per share for the current year.

Institutional Trading of Marqeta

Several large investors have recently added to or reduced their stakes in MQ. Russell Investments Group Ltd. raised its stake in shares of Marqeta by 7,852.8% in the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after acquiring an additional 9,973 shares in the last quarter. Swiss National Bank grew its holdings in Marqeta by 4.6% during the first quarter. Swiss National Bank now owns 784,700 shares of the company’s stock valued at $4,677,000 after purchasing an additional 34,300 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Marqeta in the first quarter valued at approximately $65,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Marqeta by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock worth $281,000 after buying an additional 3,979 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. boosted its holdings in shares of Marqeta by 31.9% during the 1st quarter. ZWJ Investment Counsel Inc. now owns 1,809,067 shares of the company’s stock worth $10,781,000 after buying an additional 437,789 shares during the period. 78.64% of the stock is owned by institutional investors.

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.