MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in Marqeta, Inc. (NASDAQ:MQ)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Marqeta, Inc. (NASDAQ:MQ) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 269,784 shares of the company’s stock after acquiring an additional 14,547 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.05% of Marqeta worth $1,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Congress Asset Management Co. lifted its holdings in Marqeta by 7.6% during the fourth quarter. Congress Asset Management Co. now owns 1,135,842 shares of the company’s stock valued at $4,305,000 after purchasing an additional 80,161 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Marqeta in the fourth quarter valued at approximately $288,000. Xponance Inc. lifted its stake in shares of Marqeta by 11.5% during the 4th quarter. Xponance Inc. now owns 34,314 shares of the company’s stock valued at $130,000 after buying an additional 3,546 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Marqeta in the 4th quarter worth approximately $1,520,000. Finally, Northern Trust Corp grew its stake in Marqeta by 3.9% in the 4th quarter. Northern Trust Corp now owns 4,301,993 shares of the company’s stock valued at $16,305,000 after buying an additional 161,968 shares in the last quarter. 78.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group lifted their target price on Marqeta from $4.75 to $5.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Marqeta from $4.00 to $4.50 and gave the company a “market perform” rating in a research note on Thursday, May 8th. The Goldman Sachs Group decreased their target price on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Barclays raised their price target on shares of Marqeta from $4.00 to $5.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. raised shares of Marqeta from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $5.00 to $6.00 in a report on Monday, May 19th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.18.

Marqeta Trading Down 2.5%

Marqeta stock opened at $5.07 on Monday. The firm has a market cap of $2.37 billion, a P/E ratio of 253.50 and a beta of 1.41. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $6.00. The firm has a 50-day moving average of $4.26 and a 200-day moving average of $4.00.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $139.07 million during the quarter, compared to analyst estimates of $135.66 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.07) EPS. Research analysts forecast 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.