The Manufacturers Life Insurance Company lifted its stake in Marqeta, Inc. (NASDAQ:MQ – Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 252,728 shares of the company’s stock after buying an additional 5,515 shares during the period. The Manufacturers Life Insurance Company’s holdings in Marqeta were worth $1,385,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of MQ. Renaissance Capital LLC increased its holdings in Marqeta by 1.2% during the 1st quarter. Renaissance Capital LLC now owns 307,662 shares of the company’s stock valued at $1,834,000 after purchasing an additional 3,523 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Marqeta by 8.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock valued at $246,000 after purchasing an additional 3,548 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Marqeta by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock valued at $281,000 after purchasing an additional 3,979 shares during the period. Covestor Ltd increased its holdings in Marqeta by 17,340.0% during the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock valued at $26,000 after purchasing an additional 4,335 shares during the period. Finally, ProShare Advisors LLC increased its holdings in Marqeta by 6.6% during the 1st quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock valued at $505,000 after purchasing an additional 5,257 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on MQ. UBS Group cut their price objective on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company raised Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price target on the stock in a research report on Tuesday, June 25th. Susquehanna reissued a “positive” rating and issued a $9.00 price target on shares of Marqeta in a research report on Tuesday, August 6th. JPMorgan Chase & Co. dropped their price target on Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $5.50 price target on shares of Marqeta in a research report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.11.
Marqeta Price Performance
NASDAQ:MQ opened at $5.03 on Friday. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -13.97 and a beta of 1.77. Marqeta, Inc. has a one year low of $4.40 and a one year high of $7.36. The business has a fifty day moving average price of $5.10 and a 200-day moving average price of $5.35.
Marqeta (NASDAQ:MQ – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The firm had revenue of $125.30 million during the quarter, compared to analyst estimates of $121.87 million. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. Marqeta’s revenue was down 45.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) EPS. On average, equities research analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.
Marqeta 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.
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