10 Best American Penny Stocks to Buy Now

3. Marqeta, Inc. (NASDAQ:MQ)

Stock price as of May 6th: $3.90

Number of Hedge Fund Holders: 37

As a financial technology company, Marqeta, Inc. (NASDAQ:MQ) specializes in modern card issuing and payment processing solutions. Its open cloud-native platform enables businesses to create customized debit, credit, and prepaid card programs with features like Just-in-Time funding, dynamic spend controls, and tokenization for digital wallets. MQ operates globally and serves a diverse clientele across industries such as digital banking, on-demand services, expense management, and “Buy Now, Pay Later” providers.

Marqeta, Inc. (NASDAQ:MQ) delivered strong financial results in Q4 2024, with total process volume growing 29% YoY to $80 billion and net revenue increasing 14% to $136 million. The company achieved a gross profit of $98 million, up 18% from Q4 2023, and an adjusted EBITDA of $13 million, representing a 9% margin. These results demonstrate MQ’s ability to grow at scale while improving profitability. The company made significant progress in streamlining program launch timelines and enhancing bank partnerships, which should support future growth.

Looking ahead, Marqeta, Inc. (NASDAQ:MQ) is focused on three key strategic pillars: deepening platform breadth, expanding solutions offered, and strengthening leadership in payments innovation. The company announced a partnership with American Express to offer its network as a new option for credit and debit card programs starting later in 2025. MQ is also acquiring TransactPay to enhance its program management capabilities in Europe. For 2025, the company expects net revenue growth between 16% and 18%, with adjusted EBITDA margin in the range of 9% to 10%. These initiatives and projections indicate MQ’s commitment to sustainable, profitable growth, cementing the company’s third place on our list of the best American stocks to buy.