Mastercard Incorporated (MA) PT Raised to $145.00
Mastercard Incorporated (NYSE:MA) had its price objective upped by analysts at Credit Suisse Group from $128.00 to $145.00 in a research note issued to investors on Friday, The Fly reports. The firm currently has an “outperform” rating on the credit services provider’s stock. Credit Suisse Group’s price target points to a potential upside of 6.20% from the company’s previous close.
Several other brokerages also recently weighed in on MA. Cowen and Company reissued a “buy” rating and set a $137.00 price target on shares of Mastercard in a research report on Friday. Wedbush reissued a “buy” rating and set a $140.00 price target (up previously from $129.00) on shares of Mastercard in a research report on Wednesday. BidaskClub raised shares of Mastercard from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research downgraded shares of Mastercard from a “buy” rating to a “hold” rating in a research report on Monday, August 21st. Finally, Loop Capital raised their price target on shares of Mastercard from $132.00 to $144.00 and gave the company a “positive” rating in a research report on Friday, July 28th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Mastercard currently has an average rating of “Buy” and an average target price of $129.60.
Mastercard (NYSE:MA) opened at 136.53 on Friday. Mastercard has a 1-year low of $97.49 and a 1-year high of $138.64. The firm has a market cap of $145.39 billion, a P/E ratio of 33.88 and a beta of 1.18. The firm’s 50-day moving average price is $131.16 and its 200-day moving average price is $120.79.
Mastercard (NYSE:MA) last announced its earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.06. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts anticipate that Mastercard will post $4.39 earnings per share for the current fiscal year.
In related news, major shareholder Foundation Mastercard sold 87,623 shares of Mastercard stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $129.34, for a total transaction of $11,333,158.82. Following the completion of the transaction, the insider now directly owns 112,240,179 shares of the company’s stock, valued at approximately $14,517,144,751.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Martina Hundmejean sold 91,107 shares of Mastercard stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $129.79, for a total transaction of $11,824,777.53. Following the transaction, the chief financial officer now directly owns 170,570 shares of the company’s stock, valued at $22,138,280.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 850,468 shares of company stock worth $109,574,694. Insiders own 0.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Proficio Capital Partners purchased a new position in shares of Mastercard during the 4th quarter worth about $27,000. Thompson Davis & CO. Inc. boosted its position in Mastercard by 170.1% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock valued at $105,000 after buying an additional 546 shares during the period. American Beacon Advisors Inc. purchased a new stake in Mastercard in the 1st quarter valued at about $100,000. Proficio Capital Partners LLC boosted its position in Mastercard by 108.2% in the 1st quarter. Proficio Capital Partners LLC now owns 893 shares of the credit services provider’s stock valued at $108,000 after buying an additional 464 shares during the period. Finally, Integrated Investment Consultants LLC boosted its position in Mastercard by 260.0% in the 1st quarter. Integrated Investment Consultants LLC now owns 900 shares of the credit services provider’s stock valued at $101,000 after buying an additional 650 shares during the period. 76.10% of the stock is 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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