10 Best Low Priced Technology Stocks To Buy Now

4. Marqeta Inc. (NASDAQ:MQ)

Share Price as of December 24: $3.66

Number of Hedge Fund Holders: 33

Marqeta Inc. (NASDAQ:MQ) is a technology company that specializes in modern card issuing. It provides a platform that enables businesses to create customizable payment cards and embed financial services into their applications. With its open API infrastructure, Marqeta Inc. (NASDAQ:MQ) allows companies to quickly issue cards and manage payments, enhancing user experiences and facilitating new financial opportunities.

In the third quarter of 2024, Marqeta Inc. (NASDAQ:MQ) reported impressive financial results. The Total Processing Volume (TPV) reached $74 billion, reflecting a 30% increase compared to the previous year. The company generated $128 million in net revenue, an 18% rise, while gross profit climbed 24% to $90 million. These figures demonstrate Marqeta Inc.’s (NASDAQ:MQ) strong performance and growing market presence.

The company also introduced several new products that enhance its platform. One significant update is the Portfolio Migration service, which simplifies the transition for customers moving their card programs to the Marqeta platform without disrupting their existing services. In October, this feature successfully migrated millions of Klarna cards in Europe onto the platform, showcasing Marqeta Inc.’s (NASDAQ:MQ) capability to grow its business.

Another innovative offering is Marqeta Flex, which transforms how Buy Now Pay Later (BNPL) loans are integrated into payment apps. This solution aims to increase BNPL adoption by providing personalized options within popular payment applications. Additionally, in Q3 2024, Marqeta Inc. (NASDAQ:MQ) launched the UX Toolkit that allows clients to create tailored user interfaces for their card programs, improving customer engagement with fewer resources. Given these strong financial results and strategic product developments, Marqeta Inc. (NASDAQ:MQ) presents a compelling case as a technology stock to consider for investment.