Weiss Asset Management LP Purchases New Position in Marqeta, Inc. (NASDAQ:MQ)

Weiss Asset Management LP acquired a new position in Marqeta, Inc. (NASDAQ:MQ) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 224,482 shares of the company’s stock, valued at approximately $1,104,000.

Several other institutional investors also recently bought and sold shares of MQ. Point72 DIFC Ltd bought a new position in Marqeta during the 3rd quarter worth about $57,000. Prana Capital Management LP lifted its position in shares of Marqeta by 99.2% in the 3rd quarter. Prana Capital Management LP now owns 442,443 shares of the company’s stock worth $2,177,000 after purchasing an additional 220,369 shares during the period. Holocene Advisors LP lifted its position in shares of Marqeta by 143.0% in the 3rd quarter. Holocene Advisors LP now owns 522,059 shares of the company’s stock worth $2,569,000 after purchasing an additional 307,223 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Marqeta by 69.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 39,234 shares of the company’s stock valued at $193,000 after purchasing an additional 16,033 shares in the last quarter. Finally, PDT Partners LLC increased its holdings in Marqeta by 61.5% during the third quarter. PDT Partners LLC now owns 232,847 shares of the company’s stock valued at $1,146,000 after buying an additional 88,684 shares during the period. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Marqeta Stock Up 4.0 %

Shares of NASDAQ:MQ opened at $3.88 on Monday. Marqeta, Inc. has a 52-week low of $3.37 and a 52-week high of $7.36. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 194.00 and a beta of 1.54. The business has a 50-day moving average price of $4.56 and a 200-day moving average price of $5.02.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.05 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.07) earnings per share. As a group, equities analysts anticipate that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their target price on Marqeta from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Tuesday, November 5th. Susquehanna decreased their price objective on Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a research note on Tuesday, November 5th. Morgan Stanley reduced their target price on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. William Blair cut shares of Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group reduced their price objective on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Marqeta presently has an average rating of “Hold” and a consensus target price of $6.23.

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.