Boothbay Fund Management LLC Purchases Shares of 12,809 Marqeta, Inc. (NASDAQ:MQ)

Boothbay Fund Management LLC purchased a new stake in Marqeta, Inc. (NASDAQ:MQ – Get Rating) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 12,809 shares of the company’s stock, valued at approximately $91,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of MQ. Advisors Asset Management Inc. acquired a new stake in Marqeta in the 1st quarter valued at about $38,000. Captrust Financial Advisors acquired a new stake in Marqeta during the 1st quarter worth about $53,000. Steward Partners Investment Advisory LLC raised its holdings in Marqeta by 1,104.2% during 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 period. CWM LLC raised its holdings in Marqeta by 31.2% during the 3rd quarter. CWM LLC now owns 10,222 shares of the company’s stock worth $73,000 after buying an additional 2,428 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new stake in Marqeta during the 2nd quarter worth about $81,000. 61.35% of the stock is owned by institutional investors and hedge funds.

Marqeta Stock Down 5.8 %

Shares of Marqeta stock opened at $4.75 on Wednesday. The stock has a market capitalization of $2.59 billion, a P/E ratio of -13.97 and a beta of 1.93. The stock has a 50 day moving average price of $6.17 and a two-hundred day moving average price of $6.72. Marqeta, Inc. has a 12-month low of $4.27 and a 12-month high of $12.41.

Marqeta (NASDAQ:MQ – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The firm had revenue of $203.80 million during the quarter, compared to analysts’ expectations of $202.67 million. Marqeta had a negative return on equity of 12.19% and a negative net margin of 24.70%. The company’s revenue was up 31.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.07) earnings per share. Sell-side analysts anticipate that Marqeta, Inc. will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. The Goldman Sachs Group cut their price objective on Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, March 1st. KeyCorp cut their price objective on Marqeta from $9.00 to $6.00 and set an “overweight” rating on the stock in a report on Wednesday, March 1st. Citigroup dropped their target price on Marqeta from $13.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, March 2nd. Mizuho dropped their target price on Marqeta from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, December 12th. Finally, Wells Fargo & Company dropped their target price on Marqeta from $7.00 to $6.50 and set an “underweight” rating on the stock in a report on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

Marqeta Profile

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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.