Mastercard’s (MA) Buy Rating Reaffirmed at Jefferies Group LLC
Mastercard Incorporated (NYSE:MA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Group LLC in a research note issued on Tuesday. They presently have a $147.00 price objective on the credit services provider’s stock, up from their prior price objective of $140.00. Jefferies Group LLC’s target price would indicate a potential upside of 15.36% from the stock’s current price.
Several other brokerages have also recently weighed in on MA. Deutsche Bank AG restated a “buy” rating and issued a $150.00 price objective (up previously from $124.00) on shares of Mastercard in a report on Monday, July 10th. BMO Capital Markets raised their price objective on Mastercard from $123.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, May 3rd. Wedbush restated an “outperform” rating and issued a $129.00 price objective (up previously from $126.00) on shares of Mastercard in a report on Tuesday, June 6th. Cowen and Company lifted their price target on Mastercard from $122.00 to $127.00 and gave the stock an “outperform” rating in a report on Wednesday, May 3rd. Finally, Vetr cut Mastercard from a “buy” rating to a “hold” rating and set a $116.99 price target for the company. in a report on Monday, April 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $125.10.
Shares of Mastercard (MA) traded down 0.07% on Tuesday, reaching $127.34. The company’s stock had a trading volume of 1,794,457 shares. The company has a market cap of $136.49 billion, a P/E ratio of 33.25 and a beta of 1.17. Mastercard has a 52-week low of $90.72 and a 52-week high of $128.16. The company has a 50 day moving average price of $121.69 and a 200 day moving average price of $113.06.
Mastercard (NYSE:MA) last announced its quarterly earnings data on Tuesday, May 2nd. The credit services provider reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.07. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Mastercard had a return on equity of 72.95% and a net margin of 37.79%. Mastercard’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. On average, analysts anticipate that Mastercard will post $4.31 earnings per share for the current fiscal year.
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In other Mastercard news, CEO Ajay Banga sold 161,742 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $117.27, for a total transaction of $18,967,484.34. Following the sale, the chief executive officer now owns 333,495 shares of the company’s stock, valued at $39,108,958.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Foundation Mastercard sold 87,618 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $126.60, for a total transaction of $11,092,438.80. Following the sale, the insider now directly owns 112,736,681 shares in the company, valued at approximately $14,272,463,814.60. The disclosure for this sale can be found here. Insiders sold 333,319 shares of company stock worth $39,751,311 over the last three months. 0.30% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in Mastercard during the fourth quarter worth $857,217,000. Price T Rowe Associates Inc. MD boosted its stake in Mastercard by 10.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 43,801,206 shares of the credit services provider’s stock worth $4,457,649,000 after buying an additional 4,111,803 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Mastercard during the third quarter worth $405,125,000. Morgan Stanley boosted its stake in Mastercard by 26.3% in the fourth quarter. Morgan Stanley now owns 15,116,408 shares of the credit services provider’s stock worth $1,471,734,000 after buying an additional 3,144,579 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in Mastercard by 61.0% in the third quarter. Capital Research Global Investors now owns 7,013,658 shares of the credit services provider’s stock worth $713,780,000 after buying an additional 2,656,656 shares during the last quarter. 75.74% of the stock is currently owned by hedge funds and other institutional investors.
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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