Marqeta (NASDAQ:MQ) Shares Up 4.2% – Still a Buy?

Shares of Marqeta, Inc. (NASDAQ:MQ) traded up 4.2% during mid-day trading on Tuesday . The stock traded as high as $4.30 and last traded at $4.30. 1,069,566 shares were traded during trading, a decline of 81% from the average session volume of 5,550,180 shares. The stock had previously closed at $4.12.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their target price on Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a report on Monday, January 6th. Barclays reaffirmed an “equal weight” rating and set a $4.00 price objective (down previously from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. The Goldman Sachs Group boosted their target price on shares of Marqeta from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Finally, Wells Fargo & Company lowered their price target on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.33.

Marqeta Trading Up 5.0 %

The company has a market cap of $2.18 billion, a PE ratio of 216.75 and a beta of 1.49. The firm’s 50-day simple moving average is $3.97 and its two-hundred day simple moving average is $4.23.

Marqeta (NASDAQ:MQ) last issued its earnings results on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The firm had revenue of $135.79 million for the quarter, compared to the consensus estimate of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. As a group, analysts predict that Marqeta, Inc. will post 0.06 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Marqeta during the 4th quarter worth approximately $33,000. Covestor Ltd increased its holdings in Marqeta by 1,255.4% in the 4th quarter. Covestor Ltd now owns 10,030 shares of the company’s stock worth $38,000 after acquiring an additional 9,290 shares in the last quarter. Bank of Montreal Can raised its position in Marqeta by 125.6% during the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock worth $38,000 after acquiring an additional 49,243 shares during the period. Blueshift Asset Management LLC acquired a new position in Marqeta during the fourth quarter worth $38,000. Finally, Stifel Financial Corp purchased a new position in Marqeta during the fourth quarter valued at $41,000. Institutional investors and hedge funds 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.