Zurcher Kantonalbank Zurich Cantonalbank Acquires 5,306 Shares of Marqeta, Inc. (NASDAQ:MQ)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 6.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 88,857 shares of the company’s stock after acquiring an additional 5,306 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Marqeta were worth $620,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Profund Advisors LLC bought a new position in Marqeta in the 3rd quarter worth about $62,000. SVB Wealth LLC bought a new position in Marqeta in the fourth quarter worth approximately $70,000. Horizon Family Wealth Inc. bought a new stake in Marqeta during the 3rd quarter valued at $73,000. Essex Investment Management Co. LLC lifted its holdings in shares of Marqeta by 27.7% in the 3rd quarter. Essex Investment Management Co. LLC now owns 15,433 shares of the company’s stock worth $92,000 after buying an additional 3,349 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Marqeta by 20.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 19,144 shares of the company’s stock worth $114,000 after buying an additional 3,310 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America raised shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Monday, February 12th. Wells Fargo & Company boosted their price objective on shares of Marqeta from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Monness Crespi & Hardt initiated coverage on Marqeta in a research report on Tuesday, April 2nd. They set a “buy” rating and a $7.50 target price on the stock. Keefe, Bruyette & Woods boosted their price target on Marqeta from $7.00 to $8.00 and gave the stock a “market perform” rating in a research report on Friday, March 1st. Finally, Barclays lifted their target price on Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.57.

Marqeta Stock Down 0.9 %

MQ stock opened at $5.50 on Thursday. The stock has a market capitalization of $2.83 billion, a PE ratio of -13.10 and a beta of 1.84. Marqeta, Inc. has a 52 week low of $3.74 and a 52 week high of $7.36. The firm has a 50 day moving average of $5.94 and a 200 day moving average of $6.06.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $118.82 million for the quarter, compared to analyst estimates of $110.80 million. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The business’s quarterly revenue was down 41.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) earnings per share. On average, equities research analysts expect that Marqeta, Inc. will post -0.35 earnings per share for the current 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.