CreativeOne Wealth LLC Invests $59,000 in Marqeta, Inc. (NASDAQ:MQ)

CreativeOne Wealth LLC bought a new position in shares of Marqeta, Inc. (NASDAQ:MQ) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,000 shares of the company’s stock, valued at approximately $59,000.

Several other hedge funds have also modified their holdings of the company. Visa Foundation purchased a new stake in shares of Marqeta during the 2nd quarter worth about $68,197,000. Westfield Capital Management Co. LP lifted its stake in Marqeta by 4.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 8,333,453 shares of the company’s stock valued at $41,001,000 after buying an additional 319,661 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Marqeta by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock valued at $40,759,000 after buying an additional 389,045 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Marqeta by 65.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company’s stock valued at $14,362,000 after buying an additional 1,038,577 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. lifted its stake in Marqeta by 2.5% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 2,038,246 shares of the company’s stock valued at $10,028,000 after buying an additional 49,104 shares in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MQ has been the topic of a number of research reports. Monness Crespi & Hardt lowered shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target on the stock. in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered shares of Marqeta from a “buy” rating to a “hold” rating and decreased their target price for the stock from $9.00 to $4.00 in a research note on Tuesday, November 5th. Susquehanna decreased their target price on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. UBS Group decreased their target price on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, William Blair lowered shares of Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Ten 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 stock presently has a consensus rating of “Hold” and a consensus target price of $6.23.

Marqeta Stock Down 1.5 %

Shares of MQ stock opened at $3.84 on Wednesday. Marqeta, Inc. has a 52 week low of $3.37 and a 52 week high of $7.36. The stock has a market capitalization of $1.93 billion, a PE ratio of 192.00 and a beta of 1.54. The firm has a 50 day moving average of $4.66 and a two-hundred day moving average of $5.06.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm 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%. Marqeta’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the firm posted ($0.07) earnings per share. Analysts expect that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

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.