CreativeOne Wealth LLC Purchases New Position in Marqeta, Inc. (NASDAQ:MQ)

CreativeOne Wealth LLC purchased a new stake in Marqeta, Inc. (NASDAQ:MQ) in the third quarter, HoldingsChannel reports. The institutional investor purchased 12,000 shares of the company’s stock, valued at approximately $59,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MQ. J.Safra Asset Management Corp increased its holdings in shares of Marqeta by 633.2% in the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after purchasing an additional 5,300 shares during the period. Magnetar Financial LLC purchased a new position in Marqeta during the 2nd quarter worth $61,000. XTX Topco Ltd purchased a new position in Marqeta during the 2nd quarter worth $72,000. Castleview Partners LLC acquired a new stake in shares of Marqeta in the 3rd quarter worth $77,000. Finally, MQS Management LLC purchased a new stake in shares of Marqeta in the third quarter valued at about $96,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MQ shares. UBS Group reduced their price objective on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group reduced their price target on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Monday. Wells Fargo & Company cut Marqeta from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $7.00 to $5.00 in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods decreased their target price on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 5th. Finally, KeyCorp cut shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.23.

Marqeta Price Performance

Shares of MQ opened at $3.84 on Wednesday. The firm has a 50 day simple moving average of $4.66 and a 200-day simple moving average of $5.06. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $7.36. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 192.00 and a beta of 1.54.

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