Morgan Stanley Reaffirms “Overweight” Rating for Mastercard (MA)
Mastercard (NYSE:MA)‘s stock had its “overweight” rating reissued by Morgan Stanley in a research note issued on Monday. They currently have a $88.00 price target on the stock. Morgan Stanley’s price objective suggests a potential upside of 15.06% from the stock’s previous close.
The analysts wrote, “As noted in several press articles last week, MA confirmed that it will be implementing new issuer fees related to tokenization of card accounts.The new fees will include a $0.50 digitization fee, which will be collected from issuers for each instance that a mobile device is provisioned with a tokenized payment credential. MA will also charge issuers a $0.10 monthly fee per digitized/tokenized account per device for what they are calling as ‘Digital Enablement Service Lifecycle Management’. For Maestro accounts (that have an unaffiliated signature brand in the front), the service fee will be $0.025 per account per month. These fees are expected to take effect on September 1.”
In other Mastercard news, major shareholder Foundation Mastercard sold 13,414 shares of the stock on the open market in a transaction dated Friday, August 15th. The stock was sold at an average price of $75.43, for a total transaction of $1,011,818.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Mastercard (NYSE:MA) traded up 0.65% during mid-day trading on Monday, hitting $76.98. 266,799 shares of the company’s stock traded hands. Mastercard has a one year low of $60.359 and a one year high of $84.748. The stock has a 50-day moving average of $76.25 and a 200-day moving average of $75.43. The company has a market cap of $89.141 billion and a price-to-earnings ratio of 27.65.
Mastercard (NYSE:MA) last announced its earnings results on Thursday, July 31st. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $6.96 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. On average, analysts predict that Mastercard will post $3.00 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on MA. Analysts at Zacks reiterated a “neutral” rating on shares of Mastercard in a research note on Friday, August 1st. They now have a $78.00 price target on the stock. 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 research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $353.12.
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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