5 Most Promising New Technology Stocks According to Analysts

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1. Marqeta, Inc. (NASDAQ:MQ)

Number of Hedge Fund Holders: 33

Estimated One-Year Price Target: $9.35

Payments solutions company Marqeta, Inc. (NASDAQ:MQ) ranks 1st in our list of 12 most promising new technology stocks according to analysts. During the third quarter Marqeta, Inc. (NASDAQ:MQ)’s GAAP EPS came in at -$0.10, missing estimates by $0.01. Revenue in the quarter jumped about 46% YoY to reach $191.62 million, beating estimates by $10.72 million. Gross margin in the period jumped about 42% in the quarter. For the fourth quarter, Marqeta, Inc. (NASDAQ:MQ) was expecting net revenue growth of 29% to 31%, better than the consensus estimate of 22.91%.

Last month, Marqeta, Inc. (NASDAQ:MQ) announced that it agreed to buy credit card management platform Power Finance for $275 million.

A total of 33 hedge funds tracked by Insider Monkey as of the end of the third quarter of 2022 reported owning shares of Marqeta, Inc. (NASDAQ:MQ). The total value of these stakes was $656 million.

You can also take a peek at 10 Most Promising EV Battery Stocks to Buy and 11 Most Profitable Canadian Stocks.

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