Raymond James Financial Inc. purchased a new position in Marqeta, Inc. (NASDAQ:MQ - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 75,929 shares of the company's stock, valued at approximately $288,000.
Several other hedge funds have also recently made changes to their positions in the company. Arizona State Retirement System grew its holdings in shares of Marqeta by 2.5% during the fourth quarter. Arizona State Retirement System now owns 116,397 shares of the company's stock worth $441,000 after purchasing an additional 2,860 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Marqeta by 7.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 46,670 shares of the company's stock worth $174,000 after buying an additional 3,155 shares during the last quarter. KBC Group NV raised its position in shares of Marqeta by 68.8% during the 4th quarter. KBC Group NV now owns 22,546 shares of the company's stock valued at $85,000 after buying an additional 9,186 shares in the last quarter. Handelsbanken Fonder AB grew its position in Marqeta by 11.2% in the fourth quarter. Handelsbanken Fonder AB now owns 106,100 shares of the company's stock worth $402,000 after acquiring an additional 10,700 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft grew its position in Marqeta by 12.1% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 105,457 shares of the company's stock worth $399,000 after acquiring an additional 11,356 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.
Marqeta Stock Performance
Shares of Marqeta stock traded up $0.03 during midday trading on Wednesday, hitting $3.94. The company had a trading volume of 226,245 shares, compared to its average volume of 5,658,458. The company has a 50 day moving average of $4.00 and a 200 day moving average of $4.14. The stock has a market capitalization of $1.98 billion, a P/E ratio of 197.25 and a beta of 1.42. Marqeta, Inc. has a 52-week low of $3.37 and a 52-week high of $6.01.
Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.05. The company had revenue of $135.79 million for the quarter, compared to the consensus estimate of $132.71 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. Equities research analysts forecast that Marqeta, Inc. will post 0.06 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages have issued reports on MQ. Wells Fargo & Company dropped their price target on Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Thursday, January 16th. Barclays restated an "equal weight" rating and issued a $4.00 price objective (down from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Keefe, Bruyette & Woods decreased their target price on shares of Marqeta from $5.00 to $4.00 and set a "market perform" rating on the stock in a research report on Monday, January 6th. Finally, The Goldman Sachs Group cut their price target on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Marqeta has a consensus rating of "Hold" and an average target price of $5.29.
Read Our Latest Research Report on MQ
Marqeta 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.
Further Reading
Before you consider Marqeta, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Marqeta wasn't on the list.
While Marqeta currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
