Mastercard Receives “Neutral” Rating from Zacks (MA)
Mastercard (NYSE:MA)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Friday. They currently have a $78.00 price target on the stock. Zacks‘s target price suggests a potential upside of 4.03% from the company’s current price.
In other Mastercard news, major shareholder Foundation Mastercard sold 40,212 shares of the stock on the open market in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $75.03, for a total value of $3,017,106.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Separately, analysts at Goldman Sachs initiated coverage on shares of Mastercard in a research note on Tuesday, July 8th. They set a “buy” rating and a $86.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $366.38.
Shares of Mastercard (NYSE:MA) opened at 74.98 on Friday. Mastercard has a 1-year low of $60.359 and a 1-year high of $84.748. The stock has a 50-day moving average of $75.67 and a 200-day moving average of $75.8. The company has a market cap of $87.606 billion and a price-to-earnings ratio of 27.78. Mastercard also was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 11,754,546 shares, a decrease of 19.1% from the June 30th total of 14,524,091 shares. Based on an average daily volume of 4,354,497 shares, the days-to-cover ratio is currently 2.7 days. Currently, 1.2% of the shares of the company are short sold.
Mastercard (NYSE:MA) last announced its earnings results on Thursday, July 31st. The company reported $0.80 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.03. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the company posted $6.96 earnings per share. Mastercard’s revenue was up 13.4% compared to the same quarter last year. On average, analysts predict that Mastercard will post $3.01 earnings per share for the current fiscal year.
MasterCard Incorporated is a technology company in the global payments industry. The Company connects consumers, financial institutions, merchants, governments and businesses worldwide, enabling them to use electronic forms of payment instead of cash and checks.
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