12 Best Tech Stocks to Buy Right Now Under $10

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2. Marqeta Inc. (NASDAQ:MQ

Current Market Price: $3.79; Upside Potential: 32%

Number of hedge funds: 33

Marqeta Inc. (NASDAQ:MQ) is a payment processing platform specializing in card issuing and payment solutions and provides a single, global, cloud-based, open API platform for these services. The company offers a flexible and scalable infrastructure, enabling businesses to create tailored payment experiences for their customers. Its platform supports a broad spectrum of payment methods, including both virtual and physical cards, and is designed to facilitate seamless transactions across various sectors, such as fintech, e-commerce, and retail.

In its Q3 2024 earnings report, Marqeta Inc. (NASDAQ:MQ) announced net revenue of $128 million, marking an 18% year-over-year (YoY) increase. The gross profit also rose by 24% YoY, with margins expanding by 300 basis points to 70%, indicating significant profitable growth and improved operating leverage. Total Processing Volume (TPV) surged 30% YoY to $74 billion, showcasing the company’s benefit from the increasing demand for digital payment solutions as businesses shift towards cashless transactions.

On January 22, 2025, Marqeta Inc. (NASDAQ:MQ) revealed its deal to power fintech company Trading 212’s expansion into 20 countries across continental Europe. The company supports the Trading 212 card, a debit card that enhances Trading 212’s customer engagement and relationship with over 3 million users by allowing transactions on the platform with zero foreign exchange and account fees.

Mukid Chowdhury, CEO of Trading 212, stated:

“Marqeta really simplified the process of launching in new countries, allowing Trading 212 to expand quickly and capitalize on our growing momentum in Europe. We’re aiming to unlock the stock market, giving over 3 million customers in the UK and Europe access to investing capabilities that haven’t been easily accessible in the past. The Trading 212 card, powered by Marqeta, is an extension of our brand and helps keep Trading 212 top of mind for our customers in their day-to-day spending.”

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