Marqeta, Inc. (NASDAQ:MQ) Stock Holdings Lessened by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. lowered its stake in Marqeta, Inc. (NASDAQ:MQ) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,371,278 shares of the company’s stock after selling 136,195 shares during the period. ZWJ Investment Counsel Inc. owned approximately 0.26% of Marqeta worth $9,572,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of MQ. Vanguard Group Inc. raised its stake in Marqeta by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 42,892,435 shares of the company’s stock valued at $305,393,000 after purchasing an additional 2,361,729 shares during the period. Capital Research Global Investors raised its stake in Marqeta by 349.7% during the 1st quarter. Capital Research Global Investors now owns 37,142,171 shares of the company’s stock valued at $410,050,000 after purchasing an additional 28,882,196 shares during the period. BlackRock Inc. raised its stake in Marqeta by 2.4% during the 3rd quarter. BlackRock Inc. now owns 30,903,031 shares of the company’s stock valued at $220,029,000 after purchasing an additional 735,035 shares during the period. FMR LLC raised its stake in Marqeta by 27.1% during the 3rd quarter. FMR LLC now owns 28,456,412 shares of the company’s stock valued at $170,169,000 after purchasing an additional 6,058,777 shares during the period. Finally, Visa Inc. acquired a new stake in Marqeta during the 1st quarter valued at $137,389,000. Institutional investors own 78.64% of the company’s stock.

Marqeta Stock Performance

Shares of MQ traded down $0.16 during trading hours on Friday, reaching $5.31. 3,531,839 shares of the company traded hands, compared to its average volume of 5,210,341. The stock’s fifty day moving average is $6.05 and its 200 day moving average is $6.06. The stock has a market cap of $2.73 billion, a P/E ratio of -12.64 and a beta of 1.84. Marqeta, Inc. has a 1-year low of $3.74 and a 1-year high of $7.36.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $118.82 million during 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 firm’s revenue for the quarter was down 41.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) earnings per share. On average, equities research analysts predict that Marqeta, Inc. will post -0.35 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MQ shares. Wells Fargo & Company boosted their price target on shares of Marqeta from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. KeyCorp boosted their price target on shares of Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, January 8th. Truist Financial restated a “buy” rating and set a $10.00 price target (up from $9.00) on shares of Marqeta in a report on Thursday, February 29th. Keefe, Bruyette & Woods boosted their price target on shares of Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Friday, March 1st. Finally, Bank of America upgraded shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $7.57.

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.