13 Best Small Cap Tech Stocks to Buy Now

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4. Marqeta, Inc. (NASDAQ:MQ)

Number of Hedge Fund Holders: 37

Market Capitalization: $1.97 billion

Marqeta, Inc. (NASDAQ:MQ) operates a cloud-based open application programming interface platform that provides card issuance and transaction processing services. It offers solutions in many verticals, such as financial services, on-demand services, cost management, and e-commerce enablement.

Marqeta, Inc. (NASDAQ:MQ) reported a solid fourth quarter, with total process volume hitting $80 billion, up 29% from the same period last year. The company’s net revenue also climbed 14% to $136 million, led by a solid business mix and better-than-expected Christmas performance.

Following the company’s Q4 results, Mizuho analysts raised the price target on Marqeta, Inc. (NASDAQ:MQ) shares from $5 to $6, while keeping an Outperform rating. According to the analysts, Marqeta’s third quarter was particularly hard, but recent events indicate that the firm is recovering pace. A major portion of the fourth-quarter gross profit increase, which came in over four percentage points more than expected, was ascribed to a decreased effect from regulatory issues and the launch of new initiatives, which contributed around two percentage points.

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