Marqeta, Inc. (NASDAQ:MQ) Stake Lifted by Tabor Asset Management LP

Tabor Asset Management LP grew its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,017,363 shares of the company’s stock after acquiring an additional 11,613 shares during the period. Marqeta comprises about 3.3% of Tabor Asset Management LP’s investment portfolio, making the stock its 10th biggest holding. Tabor Asset Management LP owned approximately 0.19% of Marqeta worth $7,101,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Principal Financial Group Inc. grew its stake in Marqeta by 31.8% in the third quarter. Principal Financial Group Inc. now owns 69,650 shares of the company’s stock worth $417,000 after purchasing an additional 16,814 shares in the last quarter. New York State Common Retirement Fund grew its stake in Marqeta by 10.5% in the third quarter. New York State Common Retirement Fund now owns 199,800 shares of the company’s stock worth $1,195,000 after purchasing an additional 18,928 shares in the last quarter. Amalgamated Bank grew its stake in Marqeta by 4.9% in the third quarter. Amalgamated Bank now owns 51,433 shares of the company’s stock worth $308,000 after purchasing an additional 2,395 shares in the last quarter. Swiss National Bank grew its stake in Marqeta by 1.4% in the third quarter. Swiss National Bank now owns 854,100 shares of the company’s stock worth $5,108,000 after purchasing an additional 11,600 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Marqeta by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,478,600 shares of the company’s stock worth $20,802,000 after purchasing an additional 88,068 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Barclays cut their target price on shares of Marqeta from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Monness Crespi & Hardt boosted their price objective on Marqeta from $7.50 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. William Blair reaffirmed an “outperform” rating on shares of Marqeta in a research report on Wednesday, May 8th. Wedbush restated a “neutral” rating and issued a $6.00 target price on shares of Marqeta in a research note on Wednesday, May 8th. Finally, Truist Financial restated a “buy” rating and issued a $10.00 target price (up previously from $9.00) on shares of Marqeta in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.37.

Marqeta Trading Down 1.5 %

Marqeta stock traded down $0.08 during mid-day trading on Friday, hitting $5.25. The stock had a trading volume of 2,246,457 shares, compared to its average volume of 4,260,360. The stock has a 50-day simple moving average of $5.56 and a two-hundred day simple moving average of $6.04. The stock has a market capitalization of $2.72 billion, a PE ratio of -14.58 and a beta of 1.78. Marqeta, Inc. has a 12 month low of $4.62 and a 12 month high of $7.36.

Marqeta (NASDAQ:MQ) last released its earnings results on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Marqeta had a negative net margin of 32.98% and a negative return on equity of 11.84%. The firm had revenue of $117.90 million during the quarter, compared to analyst estimates of $117.05 million. During the same quarter in the previous year, the business earned ($0.13) EPS. The business’s quarterly revenue was down 45.8% compared to the same quarter last year. Sell-side analysts expect that Marqeta, Inc. will post 0.01 earnings per share for the current fiscal year.

About Marqeta

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.