Rhumbline Advisers grew its position in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 686,876 shares of the company's stock after acquiring an additional 47,965 shares during the period. Rhumbline Advisers owned 0.14% of Marqeta worth $2,830,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Headlands Technologies LLC acquired a new stake in shares of Marqeta during the 4th quarter worth approximately $33,000. Blueshift Asset Management LLC acquired a new stake in shares of Marqeta during the fourth quarter worth about $38,000. Covestor Ltd lifted its stake in Marqeta by 1,255.4% in the fourth quarter. Covestor Ltd now owns 10,030 shares of the company's stock valued at $38,000 after buying an additional 9,290 shares in the last quarter. Bank of Montreal Can lifted its position in Marqeta by 125.6% in the 4th quarter. Bank of Montreal Can now owns 10,030 shares of the company's stock valued at $38,000 after acquiring an additional 49,243 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in Marqeta in the 4th quarter worth $41,000. 78.64% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
MQ has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Marqeta from $4.00 to $4.50 and gave the company a "market perform" rating in a research report on Thursday, May 8th. Barclays increased their target price on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. raised shares of Marqeta from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $5.00 to $6.00 in a report on Monday, May 19th. The Goldman Sachs Group reduced their price objective on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, UBS Group boosted their price objective on shares of Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $5.18.
View Our Latest Stock Report on MQ
Marqeta Stock Down 1.4%
Shares of NASDAQ MQ traded down $0.08 during trading on Thursday, reaching $5.51. The company had a trading volume of 5,478,078 shares, compared to its average volume of 6,250,130. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $6.00. The stock has a market cap of $2.58 billion, a P/E ratio of 55.10 and a beta of 1.53. The company's fifty day moving average price is $4.70 and its 200-day moving average price is $4.18.
Marqeta (NASDAQ:MQ - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. The business had revenue of $139.07 million during the quarter, compared to the consensus estimate of $135.66 million. Marqeta had a net margin of 10.43% and a return on equity of 5.11%. Marqeta's quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.07) earnings per share. As a group, equities analysts predict that Marqeta, Inc. will post 0.06 earnings per share for the current year.
Marqeta Company Profile
(
Free Report)
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.
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