Westfield Capital Management Co. LP Has $41 Million Stake in Marqeta, Inc. (NASDAQ:MQ)

Westfield Capital Management Co. LP increased its stake in Marqeta, Inc. (NASDAQ:MQ) by 4.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,333,453 shares of the company’s stock after purchasing an additional 319,661 shares during the period. Westfield Capital Management Co. LP’s holdings in Marqeta were worth $41,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp boosted its holdings in Marqeta by 633.2% during the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after purchasing an additional 5,300 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Marqeta by 7,852.8% in the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after acquiring an additional 9,973 shares during the last quarter. Magnetar Financial LLC bought a new stake in Marqeta during the second quarter worth about $61,000. CreativeOne Wealth LLC acquired a new position in shares of Marqeta during the 1st quarter worth approximately $72,000. Finally, XTX Topco Ltd bought a new stake in shares of Marqeta during the 2nd quarter worth approximately $72,000. Institutional investors own 78.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. William Blair cut shares of Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Susquehanna dropped their target price on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley lowered their price target on Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Monness Crespi & Hardt cut Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a research report on Tuesday, November 5th. Finally, KeyCorp lowered Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Marqeta currently has a consensus rating of “Hold” and a consensus price target of $6.27.

Marqeta Price Performance

MQ stock opened at $4.05 on Monday. The business’s fifty day moving average price is $4.80 and its two-hundred day moving average price is $5.14. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 202.50 and a beta of 1.73. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $7.36.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The business had revenue of $127.90 million during the quarter, compared to analyst estimates of $128.05 million. During the same quarter last year, the firm earned ($0.07) EPS. Marqeta’s revenue for the quarter was up 20.8% compared to the same quarter last year. Research analysts expect that Marqeta, Inc. will post 0.06 EPS for the current year.

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.