SVB Wealth LLC Takes Position in Marqeta, Inc. (NASDAQ:MQ)

SVB Wealth LLC purchased a new stake in Marqeta, Inc. (NASDAQ:MQ) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,050 shares of the company’s stock, valued at approximately $70,000.

Several other large investors have also recently added to or reduced their stakes in MQ. Vontobel Holding Ltd. increased its stake in Marqeta by 14.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 17,700 shares of the company’s stock worth $106,000 after buying an additional 2,300 shares during the period. IFP Advisors Inc increased its stake in Marqeta by 320.1% during the 3rd quarter. IFP Advisors Inc now owns 17,674 shares of the company’s stock worth $106,000 after buying an additional 13,467 shares during the period. SG Americas Securities LLC purchased a new stake in Marqeta during the 3rd quarter worth approximately $871,000. Avior Wealth Management LLC purchased a new stake in Marqeta during the 3rd quarter worth approximately $117,000. Finally, Bank of New York Mellon Corp increased its stake in Marqeta by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,735,953 shares of the company’s stock worth $10,381,000 after buying an additional 19,532 shares during the period. 78.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MQ shares. Barclays increased their price objective on shares of Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Wells Fargo & Company increased their price objective on shares of Marqeta from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Truist Financial reissued a “buy” rating and issued a $10.00 price objective (up from $9.00) on shares of Marqeta in a research report on Thursday, February 29th. Bank of America raised shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Monday, February 12th. Finally, Monness Crespi & Hardt started coverage on shares of Marqeta in a research report on Tuesday, April 2nd. They issued a “buy” rating and a $7.50 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.57.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $5.65 on Wednesday. The stock has a market cap of $2.90 billion, a P/E ratio of -13.45 and a beta of 1.84. The firm has a fifty day moving average price of $6.03 and a 200 day moving average price of $6.07. Marqeta, Inc. has a 1-year low of $3.74 and a 1-year high of $7.36.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $118.82 million during the quarter, compared to analysts’ expectations of $110.80 million. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. Marqeta’s quarterly revenue was down 41.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. Sell-side analysts expect that Marqeta, Inc. will post -0.35 EPS for the current fiscal year.

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.