Shares of Marqeta, Inc. (NASDAQ:MQ – Get Rating) have been assigned an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $11.30.
Several equities research analysts recently weighed in on the company. Truist Financial decreased their price target on Marqeta from $16.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, October 13th. Wedbush began coverage on Marqeta in a report on Wednesday, September 21st. They set a “neutral” rating and a $8.00 price target for the company. Keefe, Bruyette & Woods cut their price objective on Marqeta from $10.00 to $8.00 in a research report on Monday, October 10th. The Goldman Sachs Group cut their price objective on Marqeta from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, November 10th. Finally, KeyCorp cut their price objective on Marqeta from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, November 10th.
Institutional Trading of Marqeta
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MQ. Advisors Asset Management Inc. purchased a new stake in Marqeta during the 1st quarter worth about $38,000. GPS Wealth Strategies Group LLC acquired a new stake in Marqeta in the 2nd quarter worth about $51,000. Captrust Financial Advisors acquired a new stake in Marqeta in the 1st quarter worth about $53,000. CWM LLC acquired a new stake in Marqeta in the 2nd quarter worth about $63,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in Marqeta by 1,104.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 7,827 shares of the company’s stock worth $63,000 after buying an additional 7,177 shares during the last quarter. Hedge funds and other institutional investors own 61.35% of the company’s stock.
Marqeta Trading Up 3.6 %
MQ stock opened at $6.09 on Friday. The business has a 50 day simple moving average of $6.58 and a 200-day simple moving average of $7.63. Marqeta has a twelve month low of $5.64 and a twelve month high of $16.10. The company has a market capitalization of $3.32 billion, a P/E ratio of -16.92 and a beta of 1.90.
Marqeta Company Profile
Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions.
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