Congress Asset Management Co. Has $4.66 Million Holdings in Marqeta, Inc. (NASDAQ:MQ)

Congress Asset Management Co. lessened its holdings in Marqeta, Inc. (NASDAQ:MQ) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,131,130 shares of the company’s stock after selling 4,712 shares during the period. Congress Asset Management Co. owned about 0.22% of Marqeta worth $4,660,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MQ. Raymond James Financial Inc. bought a new position in Marqeta during the 4th quarter worth $288,000. Xponance Inc. increased its position in Marqeta by 11.5% in the 4th quarter. Xponance Inc. now owns 34,314 shares of the company’s stock valued at $130,000 after buying an additional 3,546 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Marqeta during the fourth quarter worth approximately $1,520,000. Northern Trust Corp raised its holdings in Marqeta by 3.9% during the fourth quarter. Northern Trust Corp now owns 4,301,993 shares of the company’s stock worth $16,305,000 after buying an additional 161,968 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. acquired a new stake in shares of Marqeta in the 4th quarter worth about $778,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Analysts Set New Price Targets

MQ has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Marqeta from $4.00 to $4.50 and gave the company a “market perform” rating in a research report on Thursday, May 8th. The Goldman Sachs Group dropped their price objective on Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. UBS Group increased their target price on shares of Marqeta from $4.75 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Barclays lifted their price target on Marqeta from $4.00 to $5.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. raised shares of Marqeta from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $5.00 to $6.00 in a research note on Monday, May 19th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.18.

Marqeta Trading Down 0.5%

Shares of NASDAQ MQ opened at $5.47 on Monday. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $6.00. The stock’s 50-day moving average is $4.45 and its 200 day moving average is $4.10. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 273.50 and a beta of 1.53.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $139.07 million for the quarter, compared to analysts’ expectations of $135.66 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.07) earnings per share. On average, analysts forecast 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.