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

Raymond James Financial Inc. purchased a new stake in Marqeta, Inc. (NASDAQ:MQ) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 75,929 shares of the company’s stock, valued at approximately $288,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in shares of Marqeta during the 4th quarter worth approximately $33,000. Blueshift Asset Management LLC bought a new position in Marqeta in the 4th quarter valued at approximately $38,000. Bank of Montreal Can lifted its stake in Marqeta by 125.6% in the 4th quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock valued at $38,000 after purchasing an additional 49,243 shares during the last quarter. Certuity LLC bought a new position in Marqeta in the 4th quarter valued at approximately $44,000. Finally, apricus wealth LLC acquired a new position in Marqeta in the 4th quarter valued at approximately $51,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Price Performance

Shares of NASDAQ MQ opened at $4.60 on Monday. The stock has a market capitalization of $2.32 billion, a P/E ratio of 230.00 and a beta of 1.41. The company has a 50-day moving average price of $4.07 and a 200-day moving average price of $4.00. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $6.01.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm had revenue of $139.07 million during the quarter, compared to analysts’ expectations of $135.66 million. During the same period last year, the company earned ($0.07) earnings per share. The business’s revenue was up 17.9% on a year-over-year basis. As a group, equities research analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their price target on shares of Marqeta from $4.00 to $4.50 and gave the stock a “market perform” rating in a report on Thursday. Wells Fargo & Company reduced 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, UBS Group raised their price target on shares of Marqeta from $4.75 to $5.00 and gave the stock a “neutral” rating in a report on Thursday. Eleven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.00.

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.