Brighton Jones LLC Grows Stock Position in Marqeta, Inc. (NASDAQ:MQ)

Brighton Jones LLC boosted its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 64.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,575 shares of the company’s stock after acquiring an additional 8,453 shares during the quarter. Brighton Jones LLC’s holdings in Marqeta were worth $151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MQ. Profund Advisors LLC bought a new stake in Marqeta in the 3rd quarter worth $62,000. SVB Wealth LLC bought a new stake in shares of Marqeta in the fourth quarter worth about $70,000. Horizon Family Wealth Inc. purchased a new position in Marqeta during the 3rd quarter valued at about $73,000. Essex Investment Management Co. LLC raised its position in Marqeta by 27.7% during the 3rd quarter. Essex Investment Management Co. LLC now owns 15,433 shares of the company’s stock valued at $92,000 after purchasing an additional 3,349 shares during the last quarter. Finally, Yoder Wealth Management Inc. purchased a new stake in Marqeta in the 4th quarter worth approximately $107,000. 78.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Monness Crespi & Hardt assumed coverage on Marqeta in a research note on Tuesday, April 2nd. They set a “buy” rating and a $7.50 target price on the stock. Bank of America upgraded shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Monday, February 12th. Keefe, Bruyette & Woods lifted their target price on shares of Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Friday, March 1st. Barclays boosted their price target 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. Finally, KeyCorp raised their price objective on shares of Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Marqeta currently has a consensus rating of “Moderate Buy” and an average price target of $7.57.

Marqeta Price Performance

Shares of MQ opened at $5.51 on Friday. The business’s 50 day moving average price is $5.89 and its 200-day moving average price is $6.05. Marqeta, Inc. has a 52 week low of $4.06 and a 52 week high of $7.36.

Marqeta (NASDAQ:MQ) last released its earnings results on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The business had revenue of $118.82 million for the quarter, compared to the consensus estimate of $110.80 million. During the same period in the previous year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was down 41.7% compared to the same quarter last year. On average, analysts forecast that Marqeta, Inc. will post -0.35 EPS for the current year.

Marqeta Company Profile

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.