Raymond James Financial Inc. Takes Position in Marqeta, Inc. (NASDAQ:MQ)

Raymond James Financial Inc. acquired a new position in shares of Marqeta, Inc. (NASDAQ:MQ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 75,929 shares of the company’s stock, valued at approximately $288,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in shares of Marqeta by 263.0% in the third quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company’s stock valued at $6,499,000 after buying an additional 956,992 shares in the last quarter. Barclays PLC increased its holdings in Marqeta by 226.4% during the 3rd quarter. Barclays PLC now owns 861,414 shares of the company’s stock valued at $4,238,000 after acquiring an additional 597,539 shares in the last quarter. Nordea Investment Management AB raised its position in Marqeta by 107.8% during the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock worth $3,265,000 after acquiring an additional 441,617 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Marqeta in the fourth quarter valued at about $935,000. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Marqeta by 45.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 538,247 shares of the company’s stock valued at $2,040,000 after purchasing an additional 168,177 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their target price on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company lowered their price target on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, Barclays reissued an “equal weight” rating and issued a $4.00 price objective (down previously from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Marqeta presently has an average rating of “Hold” and an average price target of $5.29.

Marqeta Stock Performance

Shares of NASDAQ:MQ opened at $3.84 on Friday. The business’s 50-day simple moving average is $3.99 and its 200 day simple moving average is $4.16. The company has a market cap of $1.94 billion, a P/E ratio of 192.00 and a beta of 1.42. Marqeta, Inc. has a one year low of $3.37 and a one year high of $6.01.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The business had revenue of $135.79 million during the quarter, compared to analyst estimates of $132.71 million. Analysts predict that Marqeta, Inc. will post 0.06 earnings per share 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.