Cibc World Markets Corp Makes New Investment in Marqeta, Inc. (NASDAQ:MQ)

Cibc World Markets Corp purchased a new stake in Marqeta, Inc. (NASDAQ:MQ) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 44,386 shares of the company’s stock, valued at approximately $168,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Corient Private Wealth LLC boosted its stake in Marqeta by 438.3% in the 4th quarter. Corient Private Wealth LLC now owns 125,393 shares of the company’s stock worth $475,000 after purchasing an additional 102,100 shares during the period. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Marqeta in the fourth quarter worth about $111,000. Swiss National Bank boosted its position in shares of Marqeta by 2.5% in the fourth quarter. Swiss National Bank now owns 788,900 shares of the company’s stock valued at $2,990,000 after acquiring an additional 19,100 shares during the period. Raymond James Financial Inc. purchased a new position in Marqeta during the fourth quarter valued at approximately $288,000. Finally, Arizona State Retirement System increased its holdings in Marqeta by 2.5% during the 4th quarter. Arizona State Retirement System now owns 116,397 shares of the company’s stock worth $441,000 after acquiring an additional 2,860 shares during the period. 78.64% of the stock is currently owned by institutional investors.

Marqeta Stock Performance

MQ stock opened at $4.39 on Thursday. The company has a market capitalization of $2.21 billion, a PE ratio of 219.50 and a beta of 1.49. Marqeta, Inc. has a one year low of $3.37 and a one year high of $6.25. The company’s 50 day moving average price is $3.94 and its two-hundred day moving average price is $4.25.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.05. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The business had revenue of $135.79 million during the quarter, compared to analyst estimates of $132.71 million. On average, research analysts predict that Marqeta, Inc. will post 0.06 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Keefe, Bruyette & Woods dropped their price objective on Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group upped their target price on Marqeta from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Finally, Barclays reiterated an “equal weight” rating and set a $4.00 price target (down previously from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Marqeta presently has an average rating of “Hold” and an average target price of $5.33.

Marqeta Company 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.