Marqeta, Inc. (NASDAQ:MQ) Stock Holdings Increased by Swiss National Bank

Swiss National Bank raised its holdings in shares of Marqeta, Inc. (NASDAQ:MQ – Get Rating) by 4.9% during the 4th quarter, Holdings Channel reports. The fund owned 914,700 shares of the company’s stock after purchasing an additional 42,400 shares during the period. Swiss National Bank’s holdings in Marqeta were worth $5,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Marqeta by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 42,892,435 shares of the company’s stock valued at $305,393,000 after purchasing an additional 2,361,729 shares during the period. Capital Research Global Investors increased its position in shares of Marqeta by 349.7% during the 1st quarter. Capital Research Global Investors now owns 37,142,171 shares of the company’s stock valued at $410,050,000 after purchasing an additional 28,882,196 shares during the period. BlackRock Inc. increased its position in shares of Marqeta by 2.4% during the 3rd quarter. BlackRock Inc. now owns 30,903,031 shares of the company’s stock valued at $220,029,000 after purchasing an additional 735,035 shares during the period. Visa Inc. acquired a new position in shares of Marqeta during the 1st quarter valued at $137,389,000. Finally, State Street Corp increased its position in shares of Marqeta by 3.6% during the 3rd quarter. State Street Corp now owns 8,688,572 shares of the company’s stock valued at $61,863,000 after purchasing an additional 303,382 shares during the period. 61.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MQ. KeyCorp decreased their target price on Marqeta from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, April 5th. The Goldman Sachs Group decreased their target price on Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, March 1st. Keefe, Bruyette & Woods decreased their target price on Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Tuesday, April 11th. Citigroup decreased their target price on Marqeta from $13.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, March 2nd. Finally, Barclays decreased their target price on Marqeta from $10.00 to $6.00 and set an “overweight” rating on the stock in a report on Thursday, March 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Marqeta presently has an average rating of “Hold” and an average price target of $7.15.

Marqeta Stock Up 5.5 %

Shares of MQ opened at $4.42 on Friday. Marqeta, Inc. has a 12-month low of $3.46 and a 12-month high of $12.06. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -12.28 and a beta of 1.80. The stock’s 50-day moving average price is $4.20 and its 200 day moving average price is $5.61.

Marqeta (NASDAQ:MQ – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). Marqeta had a negative net margin of 24.14% and a negative return on equity of 12.97%. The firm had revenue of $217.40 million for the quarter, compared to the consensus estimate of $211.79 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. The company’s revenue was up 30.9% on a year-over-year basis. Equities research analysts expect that Marqeta, Inc. will post -0.36 EPS for the current year.

Marqeta Company Profile

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Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions.